**GLOBAL MARKET WRAP | FEBRUARY 04, 2026** **🇺🇸 US Markets: Tech Rout Weighs Heavy** Wall Street closed lower as a sharp sell-off in technology stocks dragged major indices down. Investors are reacting to mixed earnings and escalating geopolitical concerns. * **Nasdaq** led the decline, falling **1.43%** to **23,255.19**. * **S&P 500** dropped **0.84%** to close at **6,917.81**. * **Dow Jones** slipped **0.34%** (approx. **166 points**) to **49,240.99**. * **VIX** (Fear Index) spiked over **10%** to **18.00**, signaling increased market anxiety. **🇮🇳 Indian Markets: Trade Deal Euphoria** Domestic sentiment remains buoyant following the historic **India-US Trade Deal**, though momentum has cooled slightly after yesterday's massive surge. * **Sensex** and **Nifty 50** are trading with positive bias after the Sensex zoomed over **2,000 points** in the previous session. * **IT Stocks** are under pressure (down nearly **6%**), tracking the US tech slide. * **ITC** and **Gillette India** are in focus as they turn ex-dividend today. **🪙 Crypto: Flash Crash** Digital assets faced a "bloodbath" triggered by geopolitical tensions (US Navy intercepting an Iranian drone) and risk-off sentiment. * **Bitcoin (BTC)** plummeted to **$73,000**, wiping out recent recovery gains. * **Ethereum (ETH)** slid sharply, trading near **$2,220**. * Over **$2.5 billion** in long positions were liquidated in the last 24 hours. **🛢️ Commodities: Safe Haven Bid** Geopolitical friction is driving capital into defensive assets. * **Gold** prices rebounded, trading up **1.1%** to **1.8%** across global markets as investors seek safety. * **Crude Oil (WTI)** edged higher to **$62.82** (+1.09%) amid fears of supply disruption in the Middle East. **⚡ Key Developments** * **India-US Deal:** The new pact slashes tariffs to **18%** for select sectors, boosting Indian manufacturing and export-heavy indices. * **Geopolitics:** Tensions between the US and Iran have flared, adding a risk premium to oil and gold while dampening appetite for speculative assets like crypto and tech stocks.