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

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