Jakarta. The Indonesia Stock Exchange (IDX) plunged 9.19 percent to 5,914.29 points during Tuesday morning’s opening session, triggering an automatic market suspension as fears over escalating US tariffs rattled investors globally.

Trading was halted after 552 listed companies saw their shares tumble, with only nine stocks managing to post gains.

Indonesia’s major banking stocks bore the brunt of the sell-off -- Bank Rakyat Indonesia (BRI) fell 4.57 percent, Bank Mandiri dropped 13.46 percent, and Bank Central Asia (BCA) plummeted 12.94 percent.

Under IDX rules, the circuit breaker mechanism halts trading for 30 minutes when the composite index falls by more than 8 percent. A full-day suspension is triggered if the drop exceeds 20 percent. The Financial Services Authority (OJK) may extend the suspension into the following trading day if necessary.

Global Markets React to Tariff Shock
The market chaos in Jakarta mirrors volatility seen across global financial markets since the US administration under President Donald Trump announced steep tariff hikes on a wide range of imports from Asia and other regions.

Major indices in Asia, including Japan’s Nikkei and Hong Kong’s Hang Seng, also opened lower, with losses ranging between 3-6 percent. European and US futures indicated similar downward pressure, as investors priced in potential disruptions to global supply chains, rising costs, and retaliatory trade measures.

Emerging markets, which are highly sensitive to trade flows and foreign capital movement, have been particularly vulnerable. The Indonesian rupiah also weakened against the US dollar, adding to investor anxiety.

Analysts say the tariffs threaten to dampen global economic growth and reverse gains made in trade liberalization. Several ASEAN economies, including Indonesia, have been hit hardest due to their large trade surpluses with the US and high export dependency.

The Trump administration imposes 32 percent tariffs on Indonesia, way above the baseline 10 percent.

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