Indonesia Joins Global Selloff as Rupiah, Stocks and Bonds Fall

The Indonesian rupiah hit a record low, stocks slid and bond yields surged 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 1.1% to 17,658 per dollar on Monday, the worst performer in the region. Equities slumped 4.8% to the lowest in over a year, while the benchmark 10-year bond yield climbed 17 basis points to 6.86%.