Exchange traded funds that invest in Brazil traded to the downside Tuesday after a report estimating that industrial production fell 2% in September, more than expected.

Brazilian stocks were also lower after a call for a vote in Greece put Europe’s latest financial bailout in doubt.

The iShares MSCI Brazil (NYSEArca: EWZ) fell 3.3% at last check Tuesday. [Assessing Risk in Brazilian ETFs]

Industrial output in Brazil fell by the most since April, Bloomberg reported.

Brazil is one of the so-called BRIC countries along with Russia, India and China.

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