The political platforms of both Trump and Harris appear to be bad for the U.S. stock market, with the Democratic candidate's plan to raise corporate taxes most affected, according to strategists at Citigroup. 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 candidate is between 0% and minus 4%. Strategists said Trump's plan would trigger the biggest blow to the U.S. fiscal deficit, which would be a major issue going forward. Trump has promised to cut the federal corporate tax rate from 21% to 15%, while Harris has proposed raising it to 28%. Goldman Sachs 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. Citi said that overall, investor sentiment for a soft landing, the Fed's actions and artificial intelligence tailwinds, among other forces, had a bigger impact on U.S. stocks than the Nov. 5 vote.