Stocks fall sharply after holiday break

The Jakarta Post ,  Jakarta   |  Mon, 10/06/2008 12:00 PM  |  Business

Indonesian key stock index tumbled more than 5 percent Monday on worries that fallout from the U.S. credit crisis is spreading around the globe, The Associated Press reported.

Resuming trading after a four-day break last week to mark the end of the Islamic fasting month of Ramadan, the benchmark JSX index was down 95.7 points, or 5.2 percent, at 1,736.8 in late morning trade.

The decline came after other Asian markets tumbled last week in response to the deepening financial crisis, which appears to be spreading to Europe.

President Susilo Bambang Yudhoyono was convening high level Cabinet meetings in Monday afternoon to discuss the impact a global downturn would have on the economy. (dre)
 

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