In 2025, the global equity market reached a record $157.8 trillion in market capitalization, up more than $25 trillion from 2024.
This visualization, via Visual Capitalist's Gabriel Cohen, highlights the world’s major equity markets based on their 2025 market capitalization.
Data has been sourced from the World Federation of Exchanges via SIFMA.
The World’s Biggest Stock Market
With a total market capitalization of $68.9 trillion, the U.S. is by far the world’s largest equity market, accounting for roughly 44% of the global total.
The U.S. is home to the world’s two preeminent stock exchanges, the New York Stock Exchange and the Nasdaq. Shares in the overwhelming majority of the country’s largest public companies are traded on these two exchanges.
The table below lists the world’s major equity markets as of the end of 2025.
RankCountryMarket cap in 2025 ($T)Share (%) 1🇺🇸 United States68.944% 2🇨🇳 China15.510% 3🇪🇺 European Union15.510% 4🇮🇳 India10.67% 5🇯🇵 Japan7.65% 6🇭🇰 Hong Kong6.14% 7🇬🇧 United Kingdom5.64% 8🇨🇦 Canada4.63% 9🇦🇺 Australia2.01% 10🇸🇬 Singapore0.81% --🌐 Other Developed Markets13.69% --🌐 Other Emerging Markets6.94% --🌎 World Total157.8100%The U.S. has seen its dominance in global equities strengthen over the past decade. Its share of global equity market capitalization has risen by more than 10 percentage points since 2012, when it
