**Global Market Brief: January 30, 2026** **US Markets & Tech Volatility** US equities faced significant turbulence today as major tech earnings dictated market direction. **Microsoft** plummeted **10%**—its worst daily drop since 2020—dragged down by investor concerns over massive AI capital expenditures despite beating profit estimates. Conversely, **Meta** surged **9%**, buoyed by strong ad revenue and clear AI monetization strategies. The broader market reflected this divergence. The **S&P 500** slipped **0.1%**, while the **Nasdaq** dropped **0.7%**, weighed heavily by the software sector. **ServiceNow** and **SAP** also saw steep declines, fueling fears of AI-driven disruption in the SaaS space. **Monetary Policy & Economy** The **Federal Reserve** held interest rates steady yesterday, maintaining a pause that has kept investors cautious. The decision rippled through global bond markets, with yields adjusting to the "higher for longer" narrative. In emerging markets, India’s **Economic Survey 2025-26** projected a robust GDP growth of **6.8%–7.2%** for the upcoming fiscal year. Domestic indices **Sensex** and **Nifty** closed higher by roughly **0.3%**, supported by optimism ahead of the Union Budget and strong performance in the manufacturing and banking sectors. **Commodities & Crypto** Safe-haven assets remain elevated amidst geopolitical tensions. **Gold** is trading near **$5,450** per ounce, recovering from minor profit-taking earlier in the session. Silver remains strong, trading around **$118**. In the digital asset space, **Bitcoin** is consolidating around **$88,000**. The crypto market is currently range-bound as traders digest the Fed's latest pause and cooler ETF inflows, with total market capitalization hovering near **$2.98 trillion**. **Key Data Watch** * **Microsoft:** **-10%** (AI Capex fears) * **Meta:** **+9%** (Earnings beat) * **Gold:** **~$5,450/oz** * **Bitcoin:** **~$88,000** * **India GDP Forecast:** **6.8%–7.2%**