The $124 Trillion Global Stock Market, Sorted by Region
February 26, 2025
By Dorothy Neufeld, Visual Capitalist
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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 shows the world’s publicly-traded companies in 2025, based on data from Aswath Damodaran.
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.
As of February 14, the market capitalization of the Magnificent Seven—Apple, Microsoft, Alphabet, Nvidia, Amazon, and Meta Platforms—was $17.8 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.
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%.
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