Global Stocks over the Long Term: the S&P 500, the Big Standout vs the Markets of Japan, China, Hong Kong, India, UK, France, Germany, Italy, Spain, and Canada

By Wolf Richter –  WOLF STREET

The S&P 500 gained 24% in 2024 and 53% over 2023 and 2024 combined, which was a huge two-year gain, reminiscent of the Dotcom bubble at the end of the 1990s, after which the S&P 500 spent 13 years in stock-market hell on a rollercoaster to nowhere with two 50%-crashes in between (purple box in the chart below).

But money-printing fixed all that. The S&P 500 has surged 253% since May 2013, which was when the S&P 500 finally surpassed its March 2000 high in a sustained manner (index data via YCharts).