Stock markets exceed GDP in US and UK, but it’s not like 1929

The value of the US New York Stock Exchange now exceeds US GDP, possibly for the first time in history, while the London Stock Exchange exceeds UK GDP. But current stock market valuations do not suggest a similarity with 1929.

The New York Stock Exchange is currently worth $25.62 trillion. That’s the total value of companies that make up the index. Meanwhile, US GDP was $21.43 trillion in 2019.  The tech-dominated NASDAQ is worth $19.51 trillion.