eli5 What exactly do people talking about the economy mean when they say Wall Street?

Question

They always go like Wall Street this and Wall Street that but what’s so important about wall street in particular?

In: 0

Answer 1

Wall Street is a financial district in NYC and happens to be where the New York Stock Exchange (NYSE) is located.

So basically, a ton of financial businesses are there, and that made “Wall Street” be a word people mean to just mean “bankers, investors, and the market in general”.

It’s kind of like how in some cities, there’s one area known for being where some rich people live, so some people might just use the name of that neighborhood to mean “rich people” and not necessarily people who live there.