Quarterly Outlook
Upending the global order at blinding speed
John J. Hardy
Global Head of Macro Strategy
Saxo Group
Summary: Since the COVID-19 crash, global equity markets have seen a strong recovery. The 100 biggest companies in the world were worth a record breaking $31.7 trillion as of March 31 2021, up 48% year-over-year. As a point of comparison, the combined GDP of the U.S. and China was $35.7 trillion in 2020.
In this graphic, we show the world's biggest businesses by market capitalization, as well as the countries and sectors they are from.