Indonesian stocks fall 3.7% to two-year low

File pic: The Jakarta Composite Index fell as much as 3.7% Friday, down 20% from its February 2018 record high. The benchmark gauge is down 10% this month, heading for its worst such performance since October 2008.

JAKARTA: Indonesian stocks slumped to a two-year low, headed for a bear market as investors grew increasingly jittery over the economic impact of the fast spreading coronavirus on Southeast Asia’s largest economy.

The Jakarta Composite Index fell as much as 3.7% Friday, down 20% from its February 2018 record high. The benchmark gauge is down 10% this month, heading for its worst such performance since October 2008.