"A Testament to the Resilience of Markets": World Stock Market Capitalization Doubles in Two Years
The Paris-based World Federation of Exchanges, an association of 52 regulated stock market exchanges around the world, recently released data on the world stock market capitalization, which increased to $57.8 trillion in March. That was a 39-month high for world equity values and the highest level since December 2007 when the U.S. recession started. Compared to the cyclical low of $26.6 trillion two years ago in February 2009, the total world stock market capitalization has more than doubled to the current level of almost $58 trillion. From the all-time high of $63 trillion in October 2007, the value of world equity markets is currently about 8% below that pre-crisis peak, or about $5 trillion in dollars.
See a related post here from Scott Grannis, "The $29 Trillion Recovery," where he comments:
"It is a testament to the resilience of markets, risk-takers, and workers that the global market economy has not collapsed under the weight of the fiscal and monetary policy errors that contributed to this extraordinary volatility. There are still plenty of problems left to deal with, but the recovery to date inspires hope that the problems can be overcome with time."