**GLOBAL MARKET BRIEF: FEB 04, 2026** **Geopolitical Tensions Trigger Risk-Off Wave | India Decouples with Trade Deal Rally** **📉 Global Equities: Tech Under Pressure** US markets closed lower Tuesday as investors rotated out of high-growth tech stocks amidst rising US-Iran tensions. * **S&P 500:** 6,917.81 (-0.84%) * **Nasdaq:** 23,255.19 (-1.43%) * **Dow Jones:** 49,240.99 (-0.34%) Big Tech led the decline, with **Nvidia (-2.84%)** and **Microsoft (-2.88%)** dragging indices. European markets were mixed, while Asian indices are seeing divergence today—Nikkei is down significantly, while Hang Seng remains flat. **🚀 India: Historic Rally on Trade Optimism** Indian markets bucked the global trend, surging on news of a US-India trade deal lowering tariffs to 18%. * **Sensex:** ~83,739 (+2.54%) * **Nifty 50:** ~25,727 (+2.55%) * **INR Strength:** Rupee posted its best single-day gain in years, trading near **90.26 per USD**. **💥 Crypto: Flash Crash** Digital assets suffered a "bloodbath" triggered by geopolitical fears and mass liquidations ($2.5B wiped out). * **Bitcoin (BTC):** Plunged to lows of **$73,000**, now down ~40% from October peaks. * **Ethereum (ETH):** Broke support, trading near **$2,220**. * **Sentiment:** Extreme Fear; investors fleeing to cold storage and traditional safe havens. **🛢 Commodities: Safe Haven Bid** Gold and oil are catching sharp bids as capital flees risk assets. * **Gold:** Reclaimed the **$5,050/oz** level (+2.18%). * **Crude Oil (WTI):** Trading up at **$63.64/bbl** (+0.68%) on supply concerns. **📅 Key Watchlist** * **Geopolitics:** Monitoring US Navy/Iranian drone incidents in the Arabian Sea. * **Central Banks:** Fed rhetoric shifting as inflation concerns resurface alongside growth divergence. * **Earnings:** Tech earnings digestion continues to weigh on US futures.