---
symbol: "EWZ"
name: "iShares MSCI Brazil ETF"
date: 2026-10-27
change_pct: -3.40290120979301
direction: "down"
event_type: "geopolitical"
url: "https://perplo.app/why/EWZ/2026-10-27"
updated_at: 2026-10-27T01:07:15.745Z
---

# Why iShares MSCI Brazil ETF (EWZ) fell 3.40% on October 27, 2026

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.

## Sources

- [Brazil Stocks Dive As President Lula Wins Re-Election](https://finnhub.io/api/news?id=94d0d4a0f98bc7ee0081ad53b7b07627cf1ab9c333ee2ff66d16a8ce722902d6) — Yahoo
- [Why Arcos Dorados Stock Got Socked Today](https://finnhub.io/api/news?id=d313f1c6350af7d6d93a7d35b44c45841326d568897964e33b0eb0e80c6b3caa) — Yahoo
- [BRAZIL'S CURRENCY "REAL" CRASHES OVER 10% AGAINST THE US DOLLAR AFTER LULA DA SILVA DEFEATS FLÁVIO BOLSONARO IN THE PRESIDENTIAL ELECTION.](https://t.me/marketfeed/1064299) — MarketFeed

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