IDX Plummets, Stock Influencer Suffers Rp1.7 Billion Loss in a Single Day

The Indonesia Composite Index (IHSG) plummeted during trading on Wednesday (3/6/2026), with market capitalisation evaporating by approximately Rp440 trillion within seven hours of trading. Retail investors have faced substantial losses, including a prominent stock influencer and CEO of the PPC Stock Community, @ombentrader, who reported an unrealised floating loss of Rp1.73 billion. Despite the significant loss, he indicated he is maintaining his positions as he believes the risk is still manageable.

The IHSG closed down 4.11%, or 254.36 points, to the level of 5,941.07. A total of 726 stocks, or about 75% of listed companies, ended the session in the red, while only 75 stocks gained and 158 remained stagnant. Trading value reached Rp24.96 trillion with a volume of 35.83 billion shares. Market capitalisation has dropped to Rp10,455 trillion.

The index has faced intense pressure throughout 2026, with a correction of 34.96% from its peak on 20 January 2026 to its current low. This aggressive decline has had a systemic impact on the valuation of all issuers on the Indonesia Stock Exchange (IDX). The total market capitalisation has shrunk drastically from its peak of Rp16,632 trillion on 19 January 2026.

This performance places the IHSG as one of the worst-performing indices globally, notably worse than India’s SENSEX, which has declined by only 12% during 2026. While this current cycle is extreme, history shows that similar magnitude crashes have occurred during the COVID-19 pandemic, the 2008 global financial crisis, and the 1997 Asian financial crisis.