Why iShares MSCI Brazil ETF (EWZ) fell 3.40%
iShares MSCI Brazil ETF (EWZ) fell 3.40% on October 27, 2026 — Lula re-election rattles Brazil risk appetite.
What happened
Lula da Silva won Brazil's presidential election over Flávio Bolsonaro, and Brazilian stocks sold off hard on the result.
Why it moved
EWZ holds Brazil's large caps, so it takes the full hit from the market's repricing of the new government's policy path.
Why it matters
This sits within the EM Rotation theme, where capital moves in and out of emerging markets based on policy risk and currency direction.
What would break the thesis
The selloff could reverse quickly if the new cabinet signals fiscal discipline or business-friendly appointments.