Black Friday - RF Cafe

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Black Friday is a popular shopping event that occurs on the day after Thanksgiving in the United States, which is typically the fourth Thursday in November. It is often regarded as the unofficial beginning of the Christmas holiday shopping season. On Black Friday, many retailers offer significant discounts, special promotions, and doorbuster deals to attract shoppers, both online and in physical stores.

The term "Black Friday" originated in the 1960s and was originally used to describe the heavy and disruptive pedestrian and vehicle traffic that would occur on the day after Thanksgiving. Over time, it came to represent the point at which retailers would start turning a profit for the year, moving from "in the red" to "in the black."

The event has since evolved into a major shopping extravaganza, with people lining up outside stores before dawn and increasingly participating in online shopping as well. It's a time when many consumers seek to take advantage of the best deals on a wide range of products, including electronics, clothing, toys, and more.

In recent years, some stores have extended their Black Friday sales into Thanksgiving Day, a practice that has generated controversy and debate about the impact on retail employees and the traditional holiday observance. Cyber Monday, which falls on the Monday after Thanksgiving, has also become a significant online shopping event, with many e-commerce sites offering discounts and promotions.

Black Friday, in the context of the stock market crash, generally refers to the events of September 24, 1869. It was not related to the modern Black Friday shopping event, but rather, it was a significant event in the history of the U.S. stock market. This particular Black Friday is often associated with the financial panic of 1869.

During this time, the United States was recovering from the economic turmoil and financial instability that followed the Civil War. In September 1869, a group of financiers, including Jay Gould and Jim Fisk, tried to corner the gold market by buying as much gold as possible to drive up its price and manipulate the market for their own gain. They believed that this would help them profit from a rise in the price of gold.

Their actions and manipulative tactics created significant market volatility and led to a sudden and dramatic increase in the price of gold. This speculative frenzy came to a head on September 24, 1869, when the government intervened by selling a large amount of gold to stabilize the market and break the corner that Gould and Fisk had attempted to create.

The result was a sharp and rapid drop in the price of gold, causing panic and a major financial crisis. Many investors and speculators faced significant losses. This event is known as "Black Friday" in the context of financial markets and is a notable historical example of market manipulation and its consequences.

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Black Friday | Black Friday (Shopping)