Global Equities: Market Cap Hits 137% of GDP

Global equity markets pushed total capitalization to a record $166 trillion this month, lifting the stock market cap to GDP ratio to 137% near all-time highs. The ratio has climbed 40 percentage points since April 2025, matching the 2021 meme stock frenzy peak and exceeding the 120% level seen before the 2008 Financial Crisis. The US stock market alone accounts for $77 trillion or 46% of the worldwide total, with AI industry impact on equities cited as the primary driver of the historic expansion.