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Below we highlight the year to date performance of the major equity market indices for 78 countries. The average country on the list is now down 14.15% year to date. This makes the S&P 500's year to date decline of 3.02% look pretty impressive. The US is currently the 13th best performing country on the list.

The UK ranks second out of the G7 countries with a YTD decline of 8.69%. Italy has been the worst performing G7 country in 2011 with a decline of 27.76%.

Brazil is the best performing BRIC country with a decline of 18.69%. India is the worst at -24.47%.

Venezuela currently ranks at the top of the list with a YTD gain of 79.24%, but keep in mind that the country's annual inflation is up 27%. Pakistan ranks second with a gain of 31.93%, followed by Jamaica in third at 11.37%. Greece is unsurprisingly the worst performing country year to date with a decline of 53.61%.

Source: Year To Date Stock Market Returns By Country