Black Friday (redirected from Black Friday (disambiguation))

Black Friday

A day of stock market catastrophe. Originally, September 24th, 1869 was termed Black Friday. The crash was sparked by gold speculators including Jay Gould and James Fist attempting to corner the gold market. Their attempt failed and the gold market collapsed, causing the market to tank.

Notes:

The term "black" has been used to describe other disastrous days in financial markets. For example, Tuesday, October 29th, 1929, a day the market fell precipitously, has been coined Black Tuesday, signaling the start of the Great Depression. Additionally, the largest one-day drop in stock market history occurred on Black Monday, October 19th, 1987, when the DJIA plummeted more than 22%.

See also: Black Monday, Circuit Breaker, Crash, DJIA, NYSE, Panic Selling, Take a Bath, Trading Halt

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Black Friday

A precipitous drop in a financial market . The original Black Friday occurred on September 24, 1869, when prospectors attempted to corner the gold market.

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Black Friday

A widely used reference to September 24, 1869, the date on which stock market operator Jay Gould nearly cornered the gold market. Although eventually broken by government selling of the metal, the corner resulted in massive failures on Wall Street. Gould made considerable profits on the manipulation, but his brokers declared bankruptcy.