Money & Markets1980–2025
Largest Stock Exchanges
Forty-five years of the world's stock markets, ranked by the total value of every company listed on each exchange. Tokyo's bubble briefly dethrones the NYSE in 1989, Nasdaq inflates and deflates with the dot-coms, and China's exchanges erupt from nothing — twice — before India crashes the top table.
1×
Source: World Federation of Exchanges & historical estimates Pre-2000 figures are reconstructed estimates stitched from multiple historical sources. illustrative data Updated 2026-07-09
The race in numbers
2lead changes
46years covered
12contenders
NYSElongest reign — 34 yrs at #1
Final standings · 2025
- 1NYSE$31.3T
- 2Nasdaq$30.6T
- 3Shanghai$7.40T
- 4Euronext$7.20T
- 5Tokyo (JPX)$6.90T