Those who took him seriously, however, and loaded up on US equities and the dollar, have been disappointed, as have buyers of Treasuries, who have even seen the haven status of US debt thrown into doubt.

The stock market under Trump has seen one of its worst performances on record in the first 100 days of a U.S. presidency. It’s the worst start to a year since Gerald Ford took over for Richard Nixon 50 years ago,

The US stock market is on track to have lost almost 8 percent during the first 100 days of Donald Trump's second term in the White House.