Where Did the Black Friday Phenomenon Come From? Video:

Black Friday has its roots in a financial crisis known as the Panic of 1869. In September of that year, two financiers conspired to corner the gold market, but President Grant's administration caught wind of the scheme and sold millions of dollars of gold to break the corner. This caused a panic in financial markets. The price of gold dropped, and so did the stock market, leaving thousands bankrupt. Oh, and this happened on a Friday, hence the "Black Friday" moniker.

Published Wed, 22 Nov 2017 04:05:05 UTC

More videos in Entertainment ...

Ben Vereen Talks His Role In FOX's "Star"	Steve McQueen Explains What it's Like Collaborating with Gillian Flynn	Michelle Rodriguez on Strength in Femininity	Mayday Parade Chats Their "Welcome To Sunnyland Tour"	Mayday Parade Chats The Abandoned Hospital Behind The Title Of Their New Album "Sunnyland"
Mayday Parade Plays A Game Featuring Their Favorite 90s Hits	Michelle Rodriguez Is Ready To Grow As An Actress	Viola Davis Urges Young Actors To Ask "Why?"	Viola Davis Talks About Not Conforming To Hollywood Stereotypes	Steve McQueen, Viola Davis, Michelle Rodriguez & Elizabeth Debicki Discuss "Widows"