Contrary to popular belief, the term BLACK FRIDAY didn’t originate from Thanks Giving Holidays, or any sales and shopping associations.
In 1869, two Wall Street Financiers Jim Fisk and Jay Gould went ahead to use their insider information and to purchase together a significant amount of US gold, hoping that they would corner Wall Street and drive the prices up before selling.
When US President Grant realised what they were planning, he immediately released 4 million US dollars in Gold, resulting in Wall Street Gold prices crushing on the 24th of September 1869, a day that would be marked as “The Black Friday”, as it sent the country into a short term panic mode and turmoil.
Hope you have found this topic interesting and useful. All feedback is welcomed.