The US remains the leader in stock markets globally, despite China’s rapid growth as the world’s largest economy. This is due to a combination of factors, including New Deal-era regulations that brought stability to US markets and the country’s higher growth in publicly traded companies compared to China. However, it is important for US stock bulls not to become overconfident as history has shown that markets can be unpredictable. This article can be found in the April/May 2024 issue of Fortune under the headline “An American century (and more) for stocks.” Readers can sign up for the Fortune Features list to receive breaking news alerts and updates from the newsroom.