Wall Street Crash of 1929 one aspect of the crash: It wiped out billions of dollars of wealth in one day, and this immediately depressed consumer buying. The failure set off a worldwide run on US gold deposits (i.e. the dollar), and forced the Federal Reserve to raise interest rates into the slump. Some 4,000 banks and other lenders ultimately failed. Also, the uptick rule, which allowed short selling only when the last tick in a stock's price was positive, was implemented after the 1929 market crash to prevent short sellers from driving the price of a stock down in a bear raid. The stock
48 Wall Street Broadway–Seventh Avenue Line. 48 Wall Street 48 Wall Street, known at one time as the Bank of New York Building was built in 1928 on land used by the bank since 1797, on the corner of Wall Street and William Street in New York City's Financial District. It is 156 m tall. In 2001 Rockefeller Group Business Center opened their offices within this historic building. Its former banking hall has been modified to house the Museum of American Finance, which moved there in October 2007. Immediately outside is the entrance for the Wall Street subway station (served by the )