Citi: Neither Trump nor Harris' political platforms are good for U.S. stocks, and investors are more concerned about other factors than election voting

Citigroup strategists said that both Trump and Harris' political platforms appear to be negative for the U.S. stock market, with the Democratic candidate's plan to raise corporate taxes being the most affected. Scott Chronert, an analyst at the bank, said Harris' plan would reduce the fair value of U.S. stocks by 4% to 6%. Meanwhile, the impact of the policies planned by the Republican candidates ranges from 0% to negative 4%. Strategists said Trump's plan would trigger the biggest blow to the U.S. fiscal deficit, which will become a major issue in the future. Trump promised to reduce the federal corporate tax rate from 21% to 15%, while Harris proposed raising the tax rate to 28%. Goldman Sachs Group strategists estimate that the U.S. election could have a significant impact on S&P 500 earnings, with Trump's tax cut plan boosting earnings and Harris' plan reducing profits. Overall, Citi said, forces such as investor sentiment for a soft landing, the Fed's actions and the tailwind of artificial intelligence have a greater impact on U.S. stocks than the November 5 vote. (Jinshi)