Analysts expect U.S. President Donald Trump's tariffs to weaken global economic growth, fuel volatility in global markets and raise inflationary pressures.

RBC Capital Markets and UBS Global Wealth Management have both slashed their year-end targets for the S&P 500 index Trump had announced the tariffs.

RBC lowered its target to 5,550 from 6,200, while UBS cut to 5,800 from 6,400.

Investment banks also have lowered their targets for U.S. gross domestic product growth in 2025, from a low of 1% GDP at JPMorgan to a high of 2.5% at Deutsche Bank.

Following are the forecasts from some top banks on stocks, bonds, and the U.S. dollar against the Euro: