Breaking News! IHSG Falls 5%
Jakarta, CNBC Indonesia — The Jakarta Composite Index (IHSG) plummeted 405.1 points, or 5.1%, to 7,534.67. A total of 778 shares fell, 136 were unchanged, and 44 rose. Transaction value reached Rp 21.15 trillion, involving 38.57 billion shares traded in 2.44 million trades. Market capitalisation was eroded to Rp 13,421 trillion.
The correction in the IHSG came as Fitch Ratings circulated a draft announcement revising Indonesia’s credit rating outlook to negative from previously stable, while retaining the sovereign debt rating at BBB, still within the investment-grade category.
In other developments, global oil prices rose again in morning trading on Wednesday (4 Mar 2026), as the escalation of the United States and Israel-Iran conflict began to disrupt energy production and distribution in the Middle East.
As of 10:00 am Western Indonesian Time, citing Refinitiv, the global Brent Crude price stood at US$82.03 per barrel, while West Texas Intermediate (WTI) was US$74.95 per barrel.
Daily, Brent rose slightly from Tuesday’s close of US$81.40 per barrel. Over the past week, the rally appears pronounced. On 24 February 2026, Brent was around US$70.77 per barrel.
Oil intensified as Israel said in the early hours of Wednesday that it had launched a wide-ranging wave of attacks on Iran targeting missile launch sites, the Iranian defence system, and additional infrastructure.
In diplomatic developments, Trump also heightened tensions with Western allies. He threatened to sever all trade ties with Spain after Madrid refused to allow the US military to use its bases for missions related to strikes on Iran.
Trump also vented his displeasure with British Prime Minister Keir Starmer, who did not participate in the attack on Iran despite allowing the use of British bases by US forces. “This is not Winston Churchill we are facing,” Trump said, referring to Starmer.
Meanwhile, the war’s impact continued to spread in the region. The Lebanese Health Ministry said on Wednesday that Israeli strikes on two towns in southern Beirut killed six people and wounded eight others.
Aramoun and Saadiyat lie outside Hezbollah’s traditional bases. The United Nations reported at least 30,000 people had fled Lebanon due to intensified Israeli airstrikes.
Separately, the US Department of Defense on Tuesday identified four of six American soldiers killed on Sunday in a drone strike on a US base in Kuwait. US President Donald Trump said more military personnel could die before the war ends.
The President also claimed that Iran actually planned to strike first before Washington acted, revising an earlier statement by Foreign Secretary Marco Rubio who had said Israel triggered the war.
“I think they would strike first, and I don’t want that to happen. So, if there is any, I might have forced Israel to act,” Trump said.
Casualties continued to rise on both sides. The Iranian Red Crescent Society said at least 787 people had died since the conflict began. The deadliest mass-casualty event so far was the direct attack on a girls’ primary school in Minab on Saturday, which killed up to 168 people.
Iran itself continued firing dozens of ballistic missiles at Israel, though most were intercepted by air defence systems. To date, 11 people in Israel have been reported killed since the conflict began.
The crisis has also triggered military movements by European countries. French President Emmanuel Macron ordered the nuclear-powered aircraft carrier Charles de Gaulle to move from the Baltic Sea to the Mediterranean Sea to help protect allied assets. The carrier will be accompanied by a frigate and its air wing.