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What is the original story of Black Friday?

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What is the original story of Black Friday?

Back in the 1950s, police in the city of Philadelphia used the term to describe the chaos that ensued on the day after Thanksgiving, when hordes of suburban shoppers and tourists flooded into the city in advance of the big Army-Navy football game held on that Saturday every year.

When was Black Friday invented?

The term « Black Friday » was first used on Sept. 24, 1869 , when two investors, Jay Gould and Jim Fisk, drove up the price of gold and caused a crash that day. The stock market dropped 20% and foreign trade stopped.

Why it is called Black Friday?

The true origin of the post-Thanksgiving Black Friday lies in the sense of black meaning “marked by disaster or misfortune.” In the 1950s, factory managers first started referring to the Friday after Thanksgiving as Black Friday because so many of their workers decided to falsely call in sick, thus extending the …

Why is Black Friday celebrated?

Black Friday is believed to symbolise the US gold market crash of 1869 . It was the day plummeting gold prices caused a market crash, the effects of which were felt by the US economy for years. Alternatively, it is also believed that the term Black Friday originated in the US, specifically in Philadelphia, in the 1960s.

Which country does not participate in Black Friday?

Unsurprisingly, many countries that are vocal in their opposition of capitalism and consumerism do not support Black Friday (or any other shopping holidays). That includes countries like
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North Korea, Venezuela, Iran, and Afghanistan .

Does Black Friday have anything to do with the Great Depression?

The day became known in financial history as Black Friday. This stock market crash was the origin of referring to stock market crashes as « black » days. Other examples include Black Tuesday, Oct. 29, 1929, when the market fell precipitously, signaling the start of the Great Depression , and Black Monday, Oct.
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