DoubleChecks

What was claimed

MASSIVE CRASH: Rp 848,000,000,000,000 ($47 BILLION) wiped off Indonesia’s stock market as stocks plunge around 11.5%. The biggest daily drop since 1998. This is insane...

Our verdict

Needs caution

Sources report varying figures: approximately $60 billion, about $65 billion, and one source cites IDR 1,118 trillion in market capitalization lost. The $47 billion figure appears lower than most reported estimates.

Combined assessment21 sourcesChecked Oct 17, 2026

Why this verdict

  • Approximately $47 billion in market value was wiped out

    Misleading
    One assessment reached this conclusion

  • Rp848,000,000,000,000, equivalent to $47 billion, was wiped off Indonesia’s stock market.

    Misleading
    One assessment reached this conclusion; one differed·Claude: Can’t verify

  • Rp 848,000,000,000,000 ($47 BILLION) wiped off Indonesia’s stock market

    Verified
    All assessments reached this conclusion

  • stocks plunge around 11.5%

    Verified
    One assessment reached this conclusion

Evidence reviewed

21 sources

Perplexity, Claude and ChatGPT sources are combined here.

x.comdigg.commoneycontrol.combangkokpost.comtradingeconomics.comx.cometnownews.comthestar.com.mysg.finance.yahoo.comindiatoday.in

Individual assessments

Assessment summary

  • The crash and historical comparison are supported by multiple reports, but the claimed Rp848 trillion or $47 billion loss is not confirmed by the available sources.
  • One report instead estimates about $60 billion in market capitalization was wiped out that day, so the response likely mixes an accurate percentage decline with an unsupported loss figure.x.com digg.com

Claims reviewed

Rp848,000,000,000,000, equivalent to $47 billion, was wiped off Indonesia’s stock market.

Misleading
The available reporting confirms a major loss in market capitalization but gives an estimate of about $60 billion for the day, not $47 billion.digg.com The rupiah-to-dollar equivalence and exact Rp848 trillion figure are therefore not supported by the cited evidence.

This claim may mislead readers without added context.

Indonesia’s stock market plunged around 11.5%.

Verified
Reports say the Jakarta Composite Index fell 11.4% to 11.6%, broadly matching 11.5%.x.com digg.com

The decline was the biggest daily drop since 1998.

Verified
Several reports identify the fall as the steepest one-day decline since January 1998.x.com digg.com

Assessment summary

  • The statement contains mostly accurate facts about the October 16, 2026 Indonesia stock market crash, but contains a significant discrepancy in the market value figure.
  • The percentage drop and "biggest daily drop since 1998" claim are well-supported, but sources report varying figures for market value wiped out ($47-65 billion), with one source citing IDR 1,118 trillion (approximately $62 billion), making the exact Rupiah figure unverifiable.

Claims reviewed

Approximately $47 billion in market value was wiped out

Misleading
Sources report varying figures: approximately $60 billion theedgemalaysia.com tradersagency.com, about $65 billion world-today-journal.com, and one source cites IDR 1,118 trillion in market capitalization lost indonesia-investments.com. The $47 billion figure appears lower than most reported estimates.

This claim may mislead readers without added context.

Rp 848,000,000,000,000 wiped off the market

Can’t verify
One source mentions IDR 1,118 trillion lost indonesia-investments.com, which differs from the stated Rp 848 trillion. The exact Rupiah figure cannot be verified from available sources.

Indonesia's stock market crashed around 11.5%

Verified
Multiple sources confirm the Jakarta Composite Index fell as much as 11.5-11.6% on October 16, 2026. euronews.com tokenpost.com kotakneo.com

Assessment summary

  • Multiple reputable news outlets reported an ~11.4–11.6% one‑day fall on October 16, 2026.
  • Reporters described it as the steepest single‑day drop since January 1998 and gave similar estimates of market value wiped out (roughly $47–65 billion), which matches Rp848,000,000,000,000 ≈ Rp848 trillion at recent exchange rates.
  • Sources: Reuters, Gulf Times/Reuters coverage, and Investing.com.

Claims reviewed

Rp 848,000,000,000,000 ($47 BILLION) wiped off Indonesia’s stock market

Verified
News reports cite amount wiped out in the same ballpark; Rp848 trillion converts to about $47 billion at roughly Rp18,000/USD, consistent with published figures. reuters.com gulf-times.com

stocks plunge around 11.5%

Verified
Multiple outlets reported the Jakarta Composite fell about 11.4–11.6% on the day. reuters.com investing.com

The biggest daily drop since 1998.

Verified
Reports explicitly state this was the steepest one‑day fall since January 1998. reuters.com investing.com

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