Facebook’s May 18 initial public offering has resulted in the social network being added to the preliminary list to join the Russell 3000 Index, which measures the performance of the 3,000 largest U.S. companies.

Reuters reported that Facebook would be the largest addition to the index in terms of market capitalization.

The companies included in the Russell 3000 Index represent approximately 98 percent of the investable U.S. equity market, and Reuters reported that the combined capitalization of stocks in the index will drop to $15.8 trillion as of May 31, 2012, compared with $16.7 trillion on that same date in 2011.