Citi: Both Trump and Harris Policy Platforms Unfavorable for US Stocks
According to Mars Finance, on September 16, Citigroup strategists stated that both Trump and Harris' political agendas appear to be detrimental to the US stock market, with the Democratic candidate's plan to raise corporate taxes having the most significant impact. Scott Chronert, an analyst at the bank, said that Harris' plan would reduce the fair value of US stocks by 4% to 6%. Meanwhile, the impact of the Republican candidate's proposed policies ranges from 0% to negative 4%. Strategists said that Trump's plan would deliver the biggest blow to the US budget deficit, which will become a major issue going forward. Trump has pledged to reduce the federal corporate tax rate from 21% to 15%, while Harris has proposed increasing the rate to 28%. (Gold Ten)