The Middle East unrest has been bad for the global markets.  When it first hit, stocks from around the world fell in response to the revolts and uprisings. 

Currently, fears have subsided as traders realized that the Middle East turmoil is unlikely to choke off the global oil supply, so the global economy can get along fine.  The S&P 500, up 5 percent in 2011 at 1,322.19, has largely moved on from this crisis.

However, for many Arab/Middle Eastern countries swept up by the unrest, things are far from normal.  For their investors, the losses remain.

The following are stock markets that have been pummeled by the Middle East revolts; unrest either happened there, is expected to happen in the future, or the instability of an affected neighbor is feared to negatively impact the country.   The prices are calculated from the 2011 opening until the closing of February 28, 2011.

Libya (one of the most affected countries) does have a stock exchange and a benchmark stock index, but accurate information could not be found by IBTimes.  Comparing the current market value found on the official website, www.lsm.ly/English, the index is actually up from December 2010’s levels as reported by the media, so the current data is suspect.

Libya is therefore excluded from the list.