European stock markets slipped at the opening bell on Monday as the world awoke to the first full business day operating under the new U.S presidential regime.

Stocks throughout the session were dogged by speculation that the new administration was due to announce a raft of trade measures, addressing campaign pledges over the role of the U.S. in NAFTA and elsewhere across the world. 

Speculation and a general sense of tension among investors fed into the creation of a risk-off atmosphere at the beginning of the week as investors sat tight.

The FTSE 100 in London slumped by 0.66% to 7,151 as the index's heavy weighting toward oil and financial stocks proved a burden on Monday.

London's weak performance is noteworthy given that Tuesday will see the Supreme Court deliver its verdict on whether the government will need parliamentary approval before it can begin the formal process of exiting the EU. 

In Germany the DAX index also fell notably, dropping 0.73%, to settle at 11,545. The CAC 40 in France slid by 0.60% before coming to rest at 4,821.

European currencies were higher against the greenback as the U.S. currency continued to cede ground gained during the closing weeks of 2016.

Sterling traded close to the 1.2500 handle, to change hands at 1.2481 around the time that markets closed in London. The euro held above the 1.0700 handle throughout much of the session and was changing hands at 1.0733 by the close.

Fixed income markets were also a one-way street on Monday. U.K. 10-year yields were down 1 basis point to 1.38% and German yields were down 2 basis points to 0.37%. French 10s were 1 basis point lower at 0.87% and Italian 10s were flat at 2.02%.

Oil and gas were a big faller in London after crude prices slipped overnight and into Monday's session. Brent crude oil, the European benchmark, was down by 1.1% to $54.90 per barrel shortly ahead of the London close.

Banks were also weak across Europe. Royal Bank of Scotland (RBS) was the biggest faller in London, no doubt helped by speculation late last week that it could be nearing a settlement with U.S. authorities over the allegedly fraudulent sale of mortgage-backed securities to U.S. investors and federal agencies shortly before the crisis.

Lloyds Banking (LYG) was another big faller, down 1.7%, after it emerged that the firm fell victim to a cyberattack at the beginning of January, which prevented some customers from gaining access to the bank's online payment system. BP (BP - Get Report) and Royal Dutch Shell (RDS.A - Get Report) both shed more than 2%. 

Another big faller was online gambling company Paddy Power Betfair (PDYPF) after the company announced on Monday that its bottom line for the full year has been hit by losses relating to the U.S. presidential election as well as bad bets on soccer. (The customers won.) The shares were down more than 3% for the session.

ThyssenKrupp (TYEKF) and Commerzbank (CRZBY) were the biggest fallers in Germany, with both falling victim to fraying nerves over Donald Trump's first likely moves.

For ThyssenKrupp, the U.S. represents the industrial and steel giant's second-largest market, and as a result, any border taxes or disruption to cross-border flows of goods and services will likely be negative for the company.

In France, the biggest fallers were Nokia (NOK - Get Report) , Societe Generale (SCGLY) and Natixis (NTXFF) . Stocks were shaky due to the political uncertainty on Monday.