The vast silver deposits of Cerro Rico at Potosí begin to be mined, supplying huge quantities of silver to Spain and the world economy.
Francisco Pizarro founds Lima, which becomes the capital of the Spanish Viceroyalty of Peru.
A small Spanish force led by Francisco Pizarro ambushes and captures the Inca emperor Atahualpa, beginning the fall of the Inca Empire.
The ship Victoria under Juan Sebastián Elcano returns to Spain, completing the circumnavigation begun by Magellan.
The Dutch provinces revolt against Spanish rule; the war ends with Spain recognising the independence of the Dutch Republic.
Warriors led by the chieftain Lapulapu defeat Ferdinand Magellan's men on Mactan island; Magellan is killed.
Spanish forces under Hernán Cortés and their Indigenous allies capture the Aztec capital.