Bank of America: recommends selling stocks if Trump's win sparks stock market rally

In Bitget news, Bank of America analyst Michael Hartnett said investors should consider selling U.S. stocks if Trump's victory triggers a stock market rally. That echoes a view from Citigroup earlier this week. If Trump wins and gains Republican majorities in the Senate and House, it could lead to tax cuts and immigration controls. That would drive up inflation and interest rates, putting stocks at risk. The views of two of Wall Street's biggest banks conflict with the widely held view that a Trump victory would boost U.S. stocks because Trump's proposal to lower corporate taxes would be good for corporate earnings. Hartnett, who calls this view a “reverse challenge,” also suggests buying low in the event of a Harris victory because it would Maintain the status quo for tech stocks to continue to rise. Technology stocks have been the main driver of the U.S. stock market rally this year.