Global Equity Stress — Indonesia Crash, China 10-Week Losing Streak, US Defensive Rotation
Indonesia's Jakarta Composite crashed 11.57% Friday (worst since 1998), China's CSI 300 posted a record 10th consecutive weekly loss, and Goldman Sachs flagged the most defensive investor positioning since April — while Dimon called the U.S. economy 'booming.'
What we know
An account on X reported Indonesia's worst two-day rout since the 1998 Asian financial crisis, with a single-day 11.57% drop Friday. Another account on X also noted China's CSI 300 is down 17% overall after a record 10-week losing streak. Domestically, Goldman Sachs warned its sentiment indicator fell to the 46th percentile (lowest since April) with investors rotating to bonds, gold and yen. In contrast, Jamie Dimon told markets the U.S. economy is 'booming' with strong corporate profits, low unemployment and massive AI infrastructure investment. Zerohedge noted today is the 39th anniversary of Black Monday (-22.6% on Oct 19, 1987).
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.