Also on Monday, EWZ slid 6% on volume that was more than double the daily average after the most recent Datafolha polls shows Rousseff’s lead over challenger Marina Silva widening. Rousseff now leads Silva 47% to 43%. “Rousseff’s also gained in first round intentions, rising to 40 percent from 37 percent a week earlier increasing her chances she could win outright without a second round. Silva’s first-round support fell to 27 percent from 30 percent,” reports Reuters.
To be precise, EWZ fell 5.96% Monday after entering the session with a September loss of 13.75%, meaning the ETF is off 19.71% since its Sept. 3 peak, or just 29 basis points from officially entering a bear market. [Brazil ETF Close to Bear Market]
With Monday’s slide, EWZ has ceded the second spot among the four major BRIC single-country ETFs to the iShares China Large-Cap ETF (NYSEArca: FXI). RSX the worst of the quartet this year while the WisdomTree India Earnings Fund (NYSEArca: EPI) is easily the top performer.
iShares MSCI Brazil Capped ETF