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Wondering how Black Friday got its name? You’re probably not the only one.
Each year the famous sales weekend, which follows Thanksgiving Day and begins today – November 29 – this year, sees a significant amount of shoppers head to high street stores and online brands in attempt to find the best deals. The early origins and history The term “Black Friday” was actually first associated with financial crisis, not sales shopping.
Two Wall Street financiers Jim Fisk and Jay Gould, together bought a significant amount of US gold in the hope of the overall price soaring and in turn being able to sell it for huge profits.
On Friday, September 24 1869, in what became referred to as “Black Friday”, the US gold market crashed and Fisk and Gould’s actions left Wall Street barons bankrupt.
It was not until later years that the post-Thanksgiving period became associated with the name.