Here's why we call it 'Black Friday'
Many people believe we call the day after Thanksgiving "Black Friday" because many stores become profitable on the huge shopping day and go "into the black." The true origins of the term are a bit darker. Following is a transcript of the video.
Why is it called "Black Friday"? Most people know Black Friday as the day after Thanksgiving, when stores open early and offer various sales. These stores are often "in the black" (profitable) that day.But the true story of Black Friday is darker. 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. Farmers suffered a 50% dip in wheat and corn harvest value.
Merchants in the area tried to change the name to "Big Friday," but the alternative name never caught on.By the late 1980s, "Black Friday" had spread nationally with the more positive "red to black" backstory.
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