Global Markets Dip as Trump Escalates Tariff Threats; Bitcoin Hits New Record

Global Markets Dip as Trump Escalates Tariff Threats; Bitcoin Hits New Record

Last Updated Jul - 11 - 2025, 06:23 PM | Source : Fela News

Global stocks fell on July 11, 2025, after US President Donald Trump threatened sweeping tariffs, including a 35% tax on Canada. Bitcoin surged past $118,000 as

Global stocks slipped on Friday (July 11, 2025) as U.S. President Donald Trump intensified his trade war rhetoric, threatening sweeping tariffs—including a 35% levy on Canada. The move cast a shadow over earlier market optimism, with Trump sending over 20 letters to various governments warning of new tariffs if trade deals aren’t finalized by August 1.

Despite the uncertainty, Bitcoin surged to a record high, topping $118,000. The U.S. dollar and oil prices also climbed.

“The week’s earlier optimism is fading, replaced by concern over a possible tariff shock as the weekend nears,” said Jochen Stanzl, chief market analyst at CMC Markets.

European markets responded negatively: Paris and Frankfurt indexes each dropped by around 1%. London’s FTSE 100 and the British pound also slipped, following data showing an unexpected contraction in the UK economy for May—marking the second straight monthly decline.

Asian markets had a mixed day. Hong Kong’s index edged higher, while Tokyo declined and Shanghai remained largely unchanged.

Trump’s latest salvo included warnings of 35% duties on Canadian imports and up to 20% tariffs on other countries, an increase from the current 10%. He also proposed dramatic new duties: 50% on copper, 200% on pharmaceuticals, and another 50% on Brazilian goods—part of what the White House claims is a push to reverse decades of trade imbalances.

Although Trump’s earlier tariff announcements caused market upheaval in April, their delayed implementation lessened their immediate impact. U.S. markets even rose on Thursday (July 10), with the S & P 500 and Nasdaq reaching new highs.

In London, BP shares gained 2% after the oil major reported higher expected Q2 production, though the broader FTSE 100 still fell by midday.

Key market figures as of 1040 GMT:

* London - FTSE 100: ↓ 0.6% at 8,923.68

* Paris - CAC 40: ↓ 1.0% at 7,825.22

* Frankfurt - DAX: ↓ 1.1% at 24,193.54

* Tokyo - Nikkei 225: ↓ 0.2% at 39,569.68 (close)

* Hong Kong - Hang Seng: ↑ 0.5% at 24,139.57 (close)

* Shanghai - Composite: Flat at 3,510.18 (close)

* New York - Dow Jones: ↑ 0.4% at 44,650.64 (close)

**Currencies:**

* Euro/Dollar: ↓ \$1.1692

* Pound/Dollar: ↓ \$1.3540

* Dollar/Yen: ↑ 146.80

* Euro/Pound: ↑ 86.36 pence

Commodities:

* Brent Crude: ↑ 0.6% at \$69.06/barrel

* WTI Crude: ↑ 0.7% at \$67.04/barrel

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