Wall Street and tech have been at the forefront of the global stock market plunge this year. But that does not prevent American companies, starting with Big Tech, from maintaining their hegemony on the world stock exchanges. Admittedly, the top 100 global capitalizations have shrunk by more than 20% since the start of the year, dropping from a total of $36.7 trillion to $30.61 trillion as of June 27, according to Bloomberg data.
But the fall in the stock markets affected all of the world’s markets, not just Wall Street. As a result, the share of the United States fell by only 3 points, from 69% to 66%. Tech has been badly affected, but it remains the world’s leading sector. It still accounts for 32% of the market valuation of the world’s 100 largest capitalizations at the end of June (37% at the start of the year), with nearly 10,000 billion dollars.
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