Indonesia's Jakarta Composite Index (JCI) experienced a sharp decline on March 18, 2025, plunging as much as 7.1% during intraday trading, triggering a temporary trading halt after breaching the 5% threshold. The index hit an intraday low of 6,084 before closing down 3.8% at 6,223, marking a 20% drop since its September 2024 peak and the first trading halt since the COVID-19 pandemic. The sell-off was driven by concerns over weakening consumer spending, fiscal uncertainty, and rumors of Finance Minister Sri Mulyani Indrawati's resignation. Both the government and Sri Mulyani have denied the rumors, with the minister reaffirming her commitment to her role and fiscal discipline. In response to the market turmoil, Indonesia's Financial Services Authority (OJK) introduced measures allowing listed companies to buy back shares without shareholder approval under a six-month rule to stabilize the market. Meanwhile, Bank Indonesia held its key interest rate steady at 5.75% to support the rupiah, which has been Asia's worst-performing currency this year.