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Bank of America: If Trump's victory triggers a stock market rally, it is recommended to sell stocks

Bank of America analyst Michael Hartnett says investors should consider selling U.S. stocks if Trump's victory triggers a rally in the stock market. That echoes Citigroup's view earlier this week. If Trump wins and gains a Republican majority in the Senate and House of Representatives, it could lead to tax cuts and immigration controls. That would push inflation and interest rates higher, putting stocks at risk. The view of Wall Street's two biggest banks clashes with the widely held view that a Trump victory would boost U.S. stocks because Trump's proposal to lower corporate taxes would benefit corporate earnings. Hartnett calls this view a "reverse challenge" and he also recommends buying the dip after Harris' win because it would maintain the status quo of tech stocks continuing to rise. Technology stocks have been a major driver of the surge in U.S. stocks this year.