The UK Was Once the World's Largest Stock Market 📉

What We’re Showing

This graphic shows a country-level breakdown of global market capitalization, in 1900 and 2023. Data for 1900 comes from the DMS Database 2024 (Dimson, Marsh, and Staunton, 2024), while data for 2023 is based on the FTSE Russell All-World Index (Dec 2023).

Key Takeaways

• Since 1900, the U.S. has grown its share of global market capitalization by 46 percentage points
• Asian countries like Japan, China, and India have also emerged as major equity markets