Global Market Capitalization, Dominated by the US

America's dominance of the global stock market is unmatched, and its share has only increased in the past two years, according to an analysis by visualcapitalist.com, which notes that the remarkable performance of the S&P 500 stock index played a role in the US's leadership position, with an average compound return of 14.8% over the past decade.

For comparison, global stocks, represented by the MSCI ACWI index (excluding the US), recorded a return of 7%, according to the cited source.

The analysis presents the value of companies listed on the world's stock exchanges in 2025 (by country/region), taking into account data from Aswath Damodaran. This shows that, at the beginning of 2025, the global market for listed stocks is worth 124 trillion dollars. It is worth noting that the value of the US stock market is roughly equal to all other regions combined: about $60.1 trillion, a 48.6% share of the total, and 6,062 listed companies. As of February 14, the market capitalization of the "Magnificent Seven" companies - Apple, Microsoft, Alphabet, Nvidia, Amazon and Meta Platforms - was $17.8 trillion, representing almost 30% of the entire US stock market capitalization. Last year, these companies powered more than half of the S&P 500's returns.

China is the world's second-largest stock market, valued at about $15.6 trillion, and has 7,611 listed companies (12.6% share of the total). While Tencent and Alibaba are the largest Chinese companies by market capitalization, several financial companies play a dominant role in China's stock market.

With a market capitalization of nearly $5.2 trillion (4.2%) and 4,788 listed companies, India's stock market is now larger than the UK and Latin America combined. By 2024, about 20% of households in India owned shares, up from just 7% in just five years. In particular, the country's rapid economic growth and digital transformation have seen shares in India's market grow by 80% over this period. Emerging markets, by contrast, have grown by 6%. Ahead of India in the rankings, the EU and its surroundings have a total market capitalization of nearly $15 trillion (12.1% of the total) and 5,782 listed companies; Asia (ex-Japan, China, India) - $6.79 trillion (5.5%), and 10,176 listed companies; Japan - $6.20 trillion (5%) and 4,023 listed companies. India is followed by: Africa and the Middle East - $5.09 trillion (4.1% of the total), 2,478 listed companies; United Kingdom - $3.27 trillion (2.6%), 1,064 companies; Canada - $2.97 trillion (2.4%), 2,701 companies; Australia and New Zealand - $1.71 trillion (1.4%), 1,725 companies; Latin America & the Caribbean - $1.63 trillion (1.3%), 977 companies; Eastern Europe and Russia - $0.12 trillion (0.1%), 423 companies.

The global market capitalization of $123.62 trillion includes 47,810 listed companies.