iShares MSCI Austria Investable Market Index Fund ( EWO) -3.8%

Greece's debt situation is dominating market sentiment as we head into the final hours of trading this week. In response, ETFs designed to target nations across the European continent have retreated. Funds linked to the most vulnerable countries, including EWO and the iShares MSCI Italy Index Fund ( EWI) are among the most heavily impacted.

iShares MSCI Indonesia Investable Market Index Fund ( EIDO) -3.3%

While Europe is taking center stage, the nation's drama is being felt around the globe. As investors pare back their exposure to risk, many are opting out of inherently volatile emerging markets. EIDO, The iShares FTSE China 25 Index Fund ( FXI) and the iShares MSCI Brazil Index Fund ( EWZ) are all off over 2.5%.

All prices as of 2:11 PM EST.

Written by Don Dion in Williamstown, Mass.

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At the time of publication, Dion Money Management did not own any equities mentioned.

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