Indonesian stock index tumbles over 9%; rupiah falls to all-time low

Reopening after weeklong religious holidays met with Trump turbulence

Jakarta's main stock index was down 9.6% at one point in morning trade on April 8, while the currency, the rupiah, hit an all-time low against the U.S. dollar. (Photo by Yuki Kohara)

NANA SHIBATA

April 8, 2025 11:44 JST

Updated on April 8, 2025 18:16 JST

JAKARTA -- The Indonesia Stock Exchange (IDX) Composite index tumbled over 9% at one point on Tuesday, reflecting growing fears over the effects of the sweeping new U.S. tariff policy as trading resumed after the weeklong Eid holiday break. The rupiah fell to an all-time low.

Jakarta's markets had been closed for seven trading days for a string of holidays to mark the end of Ramadan and a Hindu holy day. Tuesday is the first trading day in the country after U.S. President Donald Trump imposed tougher-than-expected levies on its trade partners last Thursday.