Deutsche Bank has a wake-up call for analysts who denied Trump would deliver on tax rhetoric—but UBS is questioning how quickly the White House may retreat.

Markets are still pinning their hopes on the art of the deal. Stocks may have fallen on Monday as investors digested U.S. President Donald Trump’s decision to whack tariffs on Mexico, Canada and China,

Shares in Europe and Asia have fallen after US President Donald Trump announced tariffs on Canada, Mexico and China, and said tariffs on the EU would "definitely happen". The German and French stock markets were down about 2%, with shares in carmakers among the worst hit, while London's FTSE 100 dropped more 1%.