Jakarta stock market crashes after warning from index company in the US. What is going on?

The Jakarta stock market has experienced a significant decline following a warning from MSCI regarding its status. The IDX Composite index dropped 11.6%, marking the largest single-day fall since the 1997 Asian financial crisis. Concerns about Indonesia's economic policies under President Prabowo Subianto have intensified, with MSCI indicating a potential downgrade to a 'standalone market' status. This could lead to a capital flight and further economic instability. Despite official growth figures, analysts criticize the government's economic management, citing issues like corruption and ineffective spending programs. Protests against Prabowo's administration have increased, reflecting public dissatisfaction with economic conditions and governance.