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.

Brazil’s central bank recently cut interest rates in a bid to stoke the domestic economy. [Brazilian Stock, Currency ETFs in Focus After Rate Cut]

WisdomTree Dreyfus Brazilian Real Fund (NYSEArca: BZF), a currency ETF, has traded lower after the latest interest rate reduction.

iShares MSCI Brazil


Tisha Guerrero contributed to this article.