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Black Friday
(redirected from Black Friday (disambiguation))

    Also found in: Financial, Encyclopedia, Wikipedia 0.04 sec.

Black Friday

24 September 1869, a day on which Jay Gould (1836-1892) and James Fisk (1834-1872), stock manipulators, attempted to corner the gold market by trying to prevent the government from selling gold. President Grant refused to agree, but they spread the rumour that the president was opposed to the sales.

George S Boutweel (1818-1905), with Grant's approval, ordered the sale of $4 million in gold. The gold price plunged and many speculators were ruined. Gould and Fisk made about $11 million out of their manipulation of the market.
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