**Global Market Brief | February 4, 2026** **Overview** Markets are digesting a mix of major geopolitical shifts and policy updates. The headline event is the newly announced **India-US trade deal**, which has injected optimism into specific sectors, though broader sentiment remains cautious due to hawkish Federal Reserve signals and rising Middle East tensions. **Equity Markets** Global equities are trading with a positive but guarded tone. The **Dow Jones** rallied **1.06%** to close at **49,433**, driven by trade deal optimism. However, the tech sector remains under pressure, weighing on the Nasdaq. In India, the **Nifty 50** is hovering near **25,727**, taking a breather after yesterday’s sharp **2,000-point** surge on the Sensex (which sits at **83,739**). Investors are reacting to the U.S. cutting tariffs on Indian goods to **18%**, a move that has specifically boosted textile and export-heavy stocks like **ITC** and **Gokaldas Exports**. **Commodities: Gold & Oil Rally** Safe-haven assets are seeing renewed demand following a drone incident involving US forces near Iran. * **Gold:** Prices have rebounded sharply. Global spot gold climbed **3.7%** to **$4,837/oz**. On the MCX, gold futures surged past **₹1,48,000 per 10g**, while Silver jumped **4%** to **₹2,54,000 per kg**. * **Crude Oil:** Brent Crude advanced to **$68 per barrel** and WTI to **$64**, supported by falling US inventories and geopolitical jitters in the Arabian Sea. **Crypto Markets: Severe Correction** Digital assets are decoupling from the broader market rally. **Bitcoin** has crashed below the psychological **$75,000** mark, trading around **$74,680**, its lowest level since April 2025. **Ethereum** also slipped below **$2,200**. The sell-off is largely attributed to risk-off sentiment following President Trump’s nomination of **Kevin Warsh** as Federal Reserve Chair. Warsh is perceived as a "hawk," fueling fears of tighter monetary policy and reduced liquidity for speculative assets. **Key Watchlist** * **Fed Policy:** Markets are pricing in a more aggressive stance on inflation under the potential new Fed leadership. * **Geopolitics:** The US-Iran situation is developing, keeping energy and bullion prices volatile. * **Corporate Moves:** **Adani Enterprises** has announced a partnership with Leonardo to enter helicopter manufacturing, drawing focus to the defense sector.