Indonesia's president holds meeting after sharp decline in stocks
JAKARTA Aug 8 (Reuters) - Indonesia's President Susilo Bambang Yudhoyono said he is holding a cabinet meeting to formulate steps following a sharp decline in Southeast Asia's biggest stock exchange on Monday.
Stocks in Indonesia fell around 5 percent and other Southeast Asian markets lost 2-3 percent after Standard & Poor's on Friday downgraded the credit rating of the United States.
(Reporting by Olivia Rondonuwu and Rieka Rahadiana; Editing by Ramya Venugopal)
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