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Indonesian stocks plunged 11% on Oct 16, the steepest drop since the 1998 crisis
16,829 posts · 6,220 accounts · -30% vs the day before
- The Jakarta Composite fell 11.57% to 5,185, wiping out $60 billion in market value – the worst day in 28 years and the biggest plunge since 1998[64][72][74]
- MSCI is weighing a downgrade of Indonesia’s market, fueling the sell‑off and adding to investor concerns[74]
- U.S. bank stocks are on track for their longest weekly losing streak since the 2008 financial crisis, falling for six consecutive weeks[42]
- A massive liquidation is underway: about 5,000 stocks are down 20% from their highs, 4,000 down 40%, and 1,500 down 60%[36]
- Tech stocks suffered a near‑5.5% weekly decline, with the Nasdaq‑100 and QQQ down almost 5.5% amid inflation worries and AI‑infrastructure financing doubts[39]
Posts cited
[36] Mike Investing · @mrmikeinvesting ·
Mass liquidation of not only Retail, but hedge funds is now in full affect. How bad is this selloff you may ask: 5,000 stocks are -20% from Highs 4,000 stocks are -40% from Highs 1,500 stocks are -60% from Highs This is all apart of the pre midterms shakeout before an EOY rally. Survive these next 2 weeks, & you’ll be well rewarded into 2027. Mark my words…
Open on X[39] Insiderwave · @insiderwave ·
🚨BREAKING Tech stocks experienced a massive sell off this week, driven by inflation concerns and skepticism over AI infrastructure financing. The Nasdaq 100 $NDX and $QQQ are down nearly 5.5% this week. Meanwhile, many tech stocks like $INTC (held by Pelosi and the Trump administration), are down nearly 20%
Open on X[42] Polymarket · @polymarket ·
BREAKING: U.S. bank stocks on track for their longest weekly losing streak since the 2008 financial crisis, falling for 6 consecutive weeks.
Open on X[64] Coin Bureau · @coinbureau ·
JUST IN: 🇮🇩Indonesia’s stock market wiped out $60,000,000,000 today, its worst day in 28 years. The Jakarta Composite closed down 11.57% at 5,185, a level not seen in almost 26 years. The last bigger daily drop came during the 1998 Asian financial crisis, when a collapsing rupiah drove up foreign debt costs and deepened a banking crisis. The index is now down about 40% this year. The fall comes amid MSCI proposing to strip Indonesia of emerging-market status over opaque ownership, suspected coordinated trading and weak enforcement. That could force funds tracking its global indices to sell Indonesian stocks. UBS estimates around $4 BILLION in passive outflows, with active investors potentially withdrawing another $15 BILLION. The downgrade is still pending, with a final decision due by June 2027. The rout comes as South Korea’s KOSPI fell -14.46% this week, its worst week since the 2008 financial crisis.
Open on X[72] The New York Times · @nytimes ·
Breaking News: Indonesian stocks suffered their biggest plunge since 1998, deepening investor fears about Southeast Asia’s largest economy.
Open on X[74] Investing.com · @investingcom ·
⚠️BREAKING: *INDONESIA STOCKS PLUNGE 11%, MOST SINCE 1998, AS MSCI CONSIDERS DOWNGRADING THE COUNTRY 🇮🇩 🇮🇩
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Written by an AI model from public posts; it can be wrong. Check the sources.