Global Stock Market Value Hits Record $157.8 Trillion in 2025; US Leads with 44%

Global stock market capitalization hit a record $157.8 trillion in 2025, an increase of more than $25 trillion from 2024. The United States led the world with a total market value of $68.9 trillion, representing approximately 44% of the global total. The New York Stock Exchange and the Nasdaq are the two main US exchanges, where most large American listed companies trade.

China and the European Union had nearly identical stock market values, each at about $15.5 trillion, tying for second place globally. Both markets were less than a quarter the size of the US market. Hong Kong's stock market was valued at $6.1 trillion, and many prominent Chinese companies are also listed there. In 2025, the market value of EU-listed stocks rose nearly 40% year on year.

India's stock market was valued at $10.6 trillion, Japan's at $7.6 trillion, and Singapore's at $824 billion. Global stocks rose by an average of about 19% in 2025, while Indian stocks gained only 2.5% on average. During the same period, markets in South Korea, Taiwan, and the United States performed strongly, with funds flowing out of India.

The year-end 2025 rankings of major global stock markets by market value were as follows: the US at $68.9 trillion (44%), China at $15.5 trillion (10%), the EU at $15.5 trillion (10%), India at $10.6 trillion (7%), Japan at $7.6 trillion (5%), Hong Kong at $6.1 trillion (4%), the UK at $5.6 trillion (4%), Canada at $4.6 trillion (3%), Australia at $2.0 trillion (1%), and Singapore at $0.8 trillion (1%). Other developed markets together accounted for $13.6 trillion (9%), and other emerging markets for $6.9 trillion (4%). The US share of global stock markets has risen by more than 10 percentage points since 2012, when it stood at about one-third.