Wall Street as a Global Financial Center

[Suba]

Although Wall Street is just a street name in Manhattan, New York City, the name Wall Street has been famous throughout the world, especially among investors and economists. However, the current state of Wall Street has changed, it is not like it used to be, we can find various people, both investors, tourists walking while taking pictures of several buildings.

Most financial activities are carried out in downtown Manhattan and Park Avenue. The New York Stock Exchange (NYSE) building is also located on Wall Street. So Wall Street functions as a center for driving the global economy and finance, a center for Stocks trading and as a center for global investment. Various types of investment instruments can be found on Wall Street such as stocks, bonds, mutual funds, ETFs and cryptocurrencies.

So in your opinion, what is the impact of Wall Street on global finance, especially if a crisis occurs?

 

[kit_hung]

Wall Street has a huge impact on world finance. Although it is just the name of a street in Manhattan, New York, the buildings and institutions located there drive a large part of the global economy. Especially since the New York Stock Exchange (NYSE) is located there, any financial changes that start on Wall Street can affect markets around the world.

If a financial crisis occurs on Wall Street, its effects spread quickly. Stock prices collapse in other markets such as London, Tokyo and Frankfurt. Investors lose confidence and start selling their assets in panic. This affects trade, jobs and even the value of currencies in various countries.

So Wall Street is not only the center of business in the United States but is the heart of the global financial system. That is why economists and many governments monitor it closely to prevent any shocks from affecting the entire world economy.