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Black Friday

A disastrous day in the history of stock markets when a systemic crash took place on September 24, 1869 after a group of gold speculators, including Jay Gould and James Fist, had ferociously sought to profit off by cornering the gold market (the New York Gold Exchange) but failed and consequently sparked a painful collapse in the gold market that, in turn, caused the stock market to nose-dive. Investors scrambled to sell their assets and many of them completely ruined.

The Black Friday is also known as the Fisk/ Gould scandal.


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