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Data: Investing.com; Chart: Axios Visuals

Sitting Indonesian President Joko Widodo, known affectionately in the country as Jokowi, was declared the winner of April's hard-fought election on Tuesday by a double-digit margin.

What's happening: It was not a second too soon for equity investors. The country's benchmark index has fallen off a cliff since voting began on April 17.

Details: After rising a respectable 5% from Jan. 1 through Election Day, the stock market not only erased all of its gains but declined by 10% during the country's month-long election process.

  • Through Monday, the exchange was in the red by 5% for the year.
  • Last week was the index's worst in 13 months, as political instability and security risks weighed on the market ahead of the election results being revealed.
  • Jokowi's win helped equities bounce 2% overnight Tuesday.

Go deeper: What to know about Indonesia's massive election

Editor's note: The spelling of the Indonesia president's nickname was corrected to Jokowi.

Go deeper

Updated 27 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1:30 p.m. ET: 32,919,487 — Total deaths: 995,352 — Total recoveries: 22,770,166Map.
  2. U.S.: Total confirmed cases as of 1:30 p.m. ET: 7,089,611 — Total deaths: 204,566 — Total recoveries: 2,750,459 — Total tests: 100,492,536Map.
  3. States: New York daily cases top 1,000 for first time since June — U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.

Biden on Supreme Court fight: "This is about whether or not the ACA will exist"

Joe Biden made health care the overwhelming focus of his remarks from Wilmington, Delaware, on Sunday, stressing that the Senate confirmation battle over Judge Amy Coney Barrett's nomination to the Supreme Court is about preserving the Affordable Care Act in the midst of a pandemic.

Why it matters: Democrats are aggressively pushing the message that Barrett, who has previously criticized Chief Justice John Roberts for his 2012 ruling salvaging the ACA, will seek to invalidate the law when the Supreme Court hears a Trump administration-backed lawsuit against it on Nov. 10.

McMaster: Trump's peaceful transition comments are a "gift to our adversaries"

President Trump's refusal to commit to a peaceful transfer of power if he loses November's presidential election is a "gift to our adversaries," Trump's former national security adviser H.R. McMaster said Sunday.

The big picture: McMaster, a retired three-star general, said that the American people must understand that the military will have "no role" in a presidential transition and that it's "irresponsible" to even talk about it as a possibility.