Global Stock Market Cap Hits Record of $95 Trillion
The market capitalization of the global stock market recently surged to a record high of $95 trillion, according to MarketWatch.
Torsten Slok, chief economist at Apollo Global Management, determined that a majority of global stock market growth occurred in November. Stocks were rallying after the US presidential election was won by former Vice President Joe Biden. Furthermore, positive vaccine data was recently released led to a market surge and record highs for most indexes around the globe.
The vaccine rally has relaxed in recent sessions, but major indexes are still up.
· The Dow is still up 10.5 percent in November.
· The S&P 500 is up more than 9 percent in November.
· The Nasdaq Composite is up 8.5 percent in November.
Outside of the US, major indexes are up as well.
· The Stoxx Europe 600 is up 12.7 percent in November.
· London’s FTSE 100 is up 13.6 percent in November.
· Japan’s Nikkei 225 is up 11.1 percent in November.
Some investors believe that the resurgence of COVID-19 won’t impact the ongoing economic recovery. However, others are scared that the virus could setback the economy and therefore markets.
According to data from John Hopkins University, the total number of confirmed COVID-19 cases grew to 52.2 million on Thursday.