**Market Brief: Wednesday, February 4, 2026** **Global Markets & Equities** Global equities are navigating a bout of significant volatility today. Following a massive rally triggered by the newly announced **India-US trade deal**, Indian benchmarks (Sensex and Nifty) have turned choppy, witnessing profit-booking. The Sensex slipped over **100 points**, while the Nifty hovered below the **25,700** mark. The primary drag comes from the IT sector, which plunged nearly **7%** tracking a sharp tech rout in the United States. Major Indian IT heavyweights like Infosys and HCLTech faced steep selling pressure, reacting to weak sentiment in global technology stocks and concerns over near-term earnings visibility. In the US, Wall Street closed lower in the previous session as investors rotated out of technology shares. The Nasdaq Composite dropped **1.43%**, the S&P 500 fell **0.84%**, and the Dow Jones Industrial Average declined **0.34%** to close at **49,240**. Key tech giants including Nvidia, Microsoft, and Meta saw declines ranging between **2%** and **3%**, dampening global risk appetite. **Commodities & Geopolitics** Geopolitical tensions are resurfacing as a key market driver. escalating friction between the US and Iran has pushed oil prices higher for a second consecutive day. Brent crude rallied **1.55%** to trade near **$67.33** per barrel, while WTI crude gained over **1%** to **$63.87**. Precious metals are benefiting from a flight to safety. Gold prices have reclaimed the pivotal **$5,000** mark in some markets (trading steady around **$4,944** in others) after climbing more than **6%** in the previous session. Silver also saw buying interest, edging up as investors hedge against currency volatility and geopolitical risks. **Cryptocurrency** The crypto market is facing a deepening correction. Bitcoin has nosedived below **$75,000**, reaching its lowest level since April 2025. The asset is currently trading around **$74,683**, marking a roughly **40%** decline from its 2025 peak. Analysts attribute the sell-off to a lack of momentum, thinning liquidity, and substantial outflows from US spot Bitcoin ETFs. The decline is further exacerbated by the broader "risk-off" sentiment prevailing in global financial markets today. **Key Economic Drivers** * **India-US Trade Deal:** The reduction of US tariffs on Indian goods to **18%** remains a central theme, though immediate euphoria is being tempered by profit-taking. * **Budget 2026 Impact:** Markets are still digesting the recent hike in Securities Transaction Tax (STT) on F&O trades, which continues to impact volume and sentiment in the derivatives segment. * **Geopolitical Risk:** Renewed US-Iran tensions are keeping energy prices elevated and supporting safe-haven assets like gold.