The existence of the Corona Virus (Covid-19) pandemic event not only poses a threat to health but also economic growth in a country. Corona Virus Disease 2019 (Covid-19) has significantly changed the world economy. The impact of the spread of the Corona Virus (Covid-19) cannot be calculated with certainty. However, the economic system slowdown has already been felt, especially in the industrial, tourism, trade, transportation, and investment sectors. It cannot be avoided as well as Indonesia, the increase in positive cases of Corona has brought effects to the stock market (iNews.id). As a result, the Composite Stock Price Index (IHSG) experienced a significant decline. The phenomenon of rare events that have a big impact, are difficult to predict, and are beyond the usual predictions is called the Black Swan Event or the Theory of Events of the Black Swan. (Kiky, 2020). The purpose of this study is to determine the events, influencing factors, impacts, and solutions of the Black Swan Event in the Covid-19 Pandemic Era on the Composite Stock Price Index (IHSG) in Indonesia. The targeted outputs are international journals. The results showed, 1)The Black Swan incident occurred in early January 2020, where the stock and bond markets experienced a very significant decline. 2)External factors, namely the Covid-19 Pandemic, are the most dominant things affecting the JCI in Indonesia. 3)The impact is that the increasing number of Covid-19 patients, the worse the JCI and the exchange rate will also be worse 4) Solutions that must be done are 4 focus and 5R.