iShares MSCI Australia Index Fund ( EWA) -9.1% Although Europe's troubles could be felt in markets around the globe, one of the heaviest-hit nations was Australia. A combination of pressure from sliding commodity prices and a slipping Aussie dollar sent the nation's stock market spiraling to 10-month lows. Market Vectors Coal ETF ( KOL) -10.0% Australia's heavy reliance on the commodity sector was another big driver to EWA's losses this week. ETFs designed to track resource producers were some of the biggest lags on the market this week. Heavy losses could be felt from funds including KOL, Market Vectors Steel ETF ( SLX) and SPDR S&P Metals & Mining ETF ( XME).