The UK FTSE 100 fell 5.6% in 2011, while France and Germany stocks saw falls of 18% and 15% as growing fears for the survival of the euro took their toll. But US stocks ended the year up.
The Libyan revolution saw the oil price surge in the first half of the year, while the gold price set a new record high as investors sought its safety.
Meanwhile, the euro ended 2011 close to a 15-month low against the dollar.
The euro has been fighting for its survival
The eurozone crisis has had a massive impact on global markets, as investors nervously await a plan to ensure Italy's government can continue to support its enormous debts.
The US and Europe, including the UK, have also come to accept that it may be many years before their heavily-indebted economies regain their former dynamism.
US troubles Financial markets started 2011 in an optimistic mood.
However, this was dramatically halted in the summer after the US lost its top AAA credit rating, following political deadlock in Congress over raising the country's debt ceiling - the legal limit on the federal government's total borrowing.
Much of the year has been dominated by the euro crisis, which came to the boil in August.
The euro ended the year close to a 15-month low against the dollar after it shed more than 3% on Thursday.
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