Indonesia Joins Global Market Rout, Rupiah Hits Record Low

The Indonesian rupiah fell to a record low, while stocks dropped and bond yields climbed as trading resumed after a two-day holiday, with local markets swept up in a global selloff fueled by inflation fears.

The rupiah dropped as much as 1.2% against the dollar on Monday, the worst performer in Asia. Equities also fell while the benchmark 10-year bond yield climbed 17 basis points.