Indonesian Stocks Plunge After MSCI Warns of Reclassification to 'Standalone Market' Status

Indonesia's stock market experienced a significant downturn on Friday, with the Jakarta Composite Index plunging by as much as 11.4%. This sharp decline, the worst one-day drop since January 1998, followed a warning from MSCI that it would downgrade Indonesia from its "emerging market" status to a "standalone market" category.