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What is the origin of the term "Black Friday?"

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asked Nov 28, 2013 in Current Events by anonymous
   

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The term “Black Friday” originated on September 24, 1869. It was a day of stock market crash which was started by gold speculators, Jay Gould and James Fist, who tried to corner the gold market. Their plan failed and the gold market crashed which in turn affected the stock market.

In recent times, “Black Friday” refers to the day after Thanksgiving which retailers consider as the start of the holiday shopping season. The retailers offer special promotions and sales to put them “in the black” which in the accounting world refers to profits as red refers to losses.
answered Jan 28, 2014 by smartguy Inquisitive Expert (111,120 points)

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