This study examines the impact of natural disasters, specifically storms, earthquakes, and droughts, on the stock indices of the world's five large stock markets: the United States, China, Japan, Germany, and India. By analyzing year-end closing prices from 2004 to 2022 across major indices, including the S&P 500, CSI 300, DAX, Nikkei 225, and BSE Sensex, we assess how these events influence investor behavior. Using panel regression analysis and the Prais-Winsten Regression technique to address potential autocorrelation, our findings reveal that only earthquakes significantly negatively affect stock markets, leading to an average decrease of 0.0745% in stock indices. In contrast, there is no evidence supporting the impact of storms and droughts on these markets.