At the World Economic Forum in Davos, a fresh division in global banking is emerging: firms that get to enjoy the sound of rules being torn up in Washington, and those that get to worry they’ll be left behind.

The president's freewheeling, off-the-cuff proclivities will likely have big effects on markets, and top bankers are getting ready for potential volatility.

Bankers at JPMorgan worked through the night in a "war room" to try and assess the early impact of U.S. President Donald Trump's administration on global trade, regulation and other matters, an executive at the bank said on Tuesday.