Citigroup strategist stated that both Trump and Harris' political agendas seem to be unfavorable for the US stock market, and the plan of the Democratic candidate to increase corporate taxes will have the greatest impact. Analyst Scott Chronert said that Harris' plan will reduce the fair value of US stocks by 4% to 6%. Meanwhile, the impact of the Republican candidate's policies is between 0% and -4%. Strategists state that Trump's plan will have the biggest impact on the US fiscal deficit, which will become a major issue in the future. Trump has promised to reduce the federal corporate tax rate from 21% to 15%, while Harris proposes to increase the tax rate to 28%. Goldman Sachs strategists estimate that the US election could have a significant impact on the returns of the S&P 500 index, with Trump's tax reduction plan increasing returns, while Harris' plan reduces profits. Citigroup states that overall, the impact of factors such as investors' sentiment for a soft landing, actions by the Federal Reserve, and the tailwind of artificial intelligence on the US stock market is greater than the November 5th election vote.