Fri Jul 11 11:30:59 UTC 2025: Here’s a summary and a rewritten news article based on the provided text:

**Summary:**

Global stock markets largely declined on Friday, July 11, 2025, driven by renewed trade war concerns fueled by U.S. President Donald Trump’s threats of higher tariffs on various countries, including a specific 35% levy on Canada. This offset earlier optimism. Bitcoin surged to a record high, while the dollar and oil prices both increased. European markets were particularly affected, awaiting details on potential new tariffs from the U.S. on the EU. Meanwhile, data revealing an unexpected contraction in the UK economy added to downward pressure on the London market and the pound. Asian markets showed mixed results. Despite the overall downturn, Wall Street indices had risen the previous day.
BP shares increased due to anticipated higher oil and gas production in the second quarter.

**News Article:**

**Global Markets Shaken by Trump’s Escalating Trade War; Bitcoin Soars**

**London – July 11, 2025 -** Global stock markets experienced a downturn on Friday as U.S. President Donald Trump intensified trade war rhetoric, sparking investor anxiety. Trump’s latest salvo included threats of a 35% tariff on Canada and blanket tariffs of up to 20% on other countries if agreements aren’t reached by an August 1 deadline.

European markets were particularly affected. The Paris CAC 40 and Frankfurt DAX both fell by approximately 1%, while London’s FTSE 100 declined by 0.6% to 8,923.68 points. The pound also weakened after new data revealed an unexpected contraction in the UK economy for the second consecutive month.

“The optimism from earlier in the week is giving way to fears of an impending tariff surprise as the weekend approaches,” noted Jochen Stanzl, chief market analyst at CMC Markets.

In Asia, markets presented a mixed picture. Hong Kong’s Hang Seng Index rose by 0.5% to 24,139.57 (close), while the Tokyo Nikkei 225 declined by 0.2% to 39,569.68 (close). The Shanghai Composite remained flat at 3,510.18 (close).

Despite the overall global market downturn, Wall Street enjoyed gains on Thursday, with the S&P 500 and Nasdaq reaching new peaks.

Bucking the trend, Bitcoin continued its upward trajectory, reaching an all-time high above $118,000. The dollar and oil prices also saw gains, with Brent North Sea Crude rising 0.6% to $69.06 per barrel and West Texas Intermediate increasing 0.7% to $67.04 per barrel.

Shares in BP saw a boost in London trading of around 2%, following the energy giant’s expectation of reporting higher oil and gas production for its second quarter.

Investors are closely monitoring developments in the U.S. trade policy, with potential ripple effects expected across global economies.

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