Citigroup strategists have noted that both Trump and Harris' political platforms could negatively affect the U.S. stock market, with Harris' plan to raise corporate taxes potentially reducing the fair value of U.S. stocks by 4% to 6%. Trump's proposals, particularly cutting the federal corporate tax rate to 15%, are seen to have a smaller but still adverse effect on the fiscal deficit, ranging from 0% to -4%.According to Goldman Sachs strategists, Trump's tax cut plan might boost S&P 500 earnings, while Harris' corporate tax hike could lower profits. Despite these concerns, Citi analysts suggest that other factors, such as Federal Reserve actions and AI-related market developments, are currently playing a more significant role in influencing U.S. stocks than the upcoming November 5 election.