US Still Dominates The $124 Trillion Global Stock Market
America’s dominance of the global stock market is unrivaled, and its share has only grown in the past two years.
America’s dominance of the global stock market is unrivaled, and its share has only grown in the past two years.
The outperformance of the S&P 500 has played a role in America’s leading position, averaging 14.8% compound average returns over the past decade. Global equities, represented by the MSCI ACWI (excluding the U.S.) Index, have returned 7% by comparison.
This graphic, via Visual Capitalist's Dorothy Neufeld, shows the world’s publicly-traded companies in 2025, based on data from Aswath Damodaran.
Down the $124 Trillion in Global Equities
Below, we show the market share of publicly-traded firms around the world at the start of 2025:
The value of the U.S. stock market is roughly equal to all other regions combined, encompassing 6,062 firms collectively valued at $60.1 trillion.
At the end of December 2024, the market capitalization of the Magnificent Seven - Apple, Microsoft, Alphabet, Nvidia, Amazon, and Meta Platforms - was over $18.4 trillion, making up almost 30% of the entire U.S. stock market. Last year, these companies fueled more than half of the S&P 500’s returns. This year, it has been the opposite, fueling the downturn as they have lost over $2.5 trillion...
China ranks as the world’s second-largest stock market, valued at $15.6 trillion across 7,061 publicly-traded companies. While Tencent and Alibaba stand as the largest firms by market cap, several financial firms play a dominant role in China’s stock market.
With a $5.2 trillion market cap, India’s stock market is now larger than the UK and Latin America combined. In 2024, roughly 20% of households owned shares, rising from just 7% in just five years. Notably, the country’s rapid economic growth and digital transformation have driven shares to rise 80% over the period. By contrast, emerging markets have increased by 6%.
To learn more about this topic from a performance perspective, check out this graphic on 30 years of global equity returns.
* * *
We've sold a TON of these lighter / flashlight combos...
Satisfaction guaranteed or your money back
Go paid at the $5 a month level, and we will send you both the PDF and e-Pub versions of “Government” - The Biggest Scam in History… Exposed! and a coupon code for 10% off anything in the Government-Scam.com/Store.
Go paid at the $50 a year level, and we will send you a free paperback edition of Etienne’s book “Government” - The Biggest Scam in History… Exposed! OR a 64GB Liberator flash drive if you live in the US. If you are international, we will give you a $10 credit towards shipping if you agree to pay the remainder.
Support us at the $250 Founding Member Level and get a signed high-resolution hardcover of “Government” + Liberator flash drive + Larken Rose’s The Most Dangerous Superstition + Art of Liberty Foundation Stickers delivered anywhere in the world. Our only option for signed copies besides catching Etienne @ an event.