Indonesian Stocks, Rupiah Slump as Iran Conflict Escalates

Indonesia’s stocks and currency slid toward new bearish milestones as rising Middle East conflict dragged on regional assets, compounding concerns over the country’s investability and policy direction.

The currency fell as much as 0.6% to 17,015 against the dollar on Monday, sliding past levels last seen during the Asian Financial Crisis and weakening past the previous all-time low set in January. The Jakarta Composite Index tumbled more than 5%, putting the stock benchmark on track to enter a bear market.