Bank of America: Sell stocks if Trump wins, triggers stock market rally

Michael Hartnett, an analyst at Bank of America, suggests that if Trump's victory triggers a rebound in the stock market, investors should consider selling US stocks. This echoes Citigroup's view earlier this week. If Trump wins and gains a Republican majority in both the Senate and the House of Representatives, it may lead to tax cuts and immigration control. This will drive up inflation and interest rates, putting stocks at risk. The views of the two largest banks on Wall Street conflict with the widely held view that a Trump victory will boost the US stock market, as Trump's proposal to lower corporate taxes will benefit corporate profits. Hartnett calls this view a "reverse challenge" and also suggests buying on dips after a Harris victory, as this will maintain the current trend of tech stocks continuing to rise. Tech stocks have been the main driving force behind the surge in the US stock market this year.