U.S. As % Of World Stock Market Cap Tops 40% Again

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Bespoke Investment Group

Below is a look at each country's percentage of total world stock market capitalization based on Bloomberg indices. (We only include the 35 largest countries by market cap in the table.)

For each country, we show its current percentage of world market cap, where it stood on Election Day 2016, and where it stood ten years ago.

Notably, the US has just recently eclipsed the 40% level for the first time since 2005. At the moment, the US stock market makes up 40.01% of world stock market capitalization. Given dollar strength, gains in US equities, and declines in most international equity markets recently, it's no surprise that this reading is at multi-year highs.

As the US's share of world market cap has gone up, China's share has taken the biggest hit. On Election Day 2016, the US made up 36.53% of world market cap, while China made up 10.21%. Since Election Day, the US has gained 3.48 percentage points, while China has lost 2.7 percentage points.

China's drop has actually moved it into the third place ranking behind Japan, which currently makes up 7.59% of world stock market cap.

Behind the US, Japan, and China ranks Hong Kong (6.51%), the UK (4.49%), France (3.23%), Germany (2.91%), and India (2.83%).

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