**Global Market Snapshot – February 3, 2026** **India-US Trade Deal Sparks Rally** Global markets are reacting to a historic trade agreement between India and the United States announced late Monday. * **Tariff Cuts:** Washington has agreed to reduce reciprocal tariffs on Indian goods from **25%** to **18%**. * **Key Beneficiaries:** Export-oriented sectors are in focus, specifically **IT services, textiles, pharmaceuticals**, and **auto ancillaries**. * **Market Impact:** The **Nifty50** closed at **25,088.40** (up **1.06%**), while the **Sensex** settled at **81,666.46** (gaining **943** points). GIFT Nifty futures suggest continued strong momentum. **Crypto Volatility & AI Jitters** The cryptocurrency market is facing significant turbulence, driven by broader risk-off sentiment and concerns over the "AI trade." * **Bitcoin:** Currently trading near **$78,000**, struggling to regain previous peaks of **$126,000**. * **Liquidations:** Excessive volatility triggered **$2.56 billion** in liquidations recently. * **Sentiment:** Investors are reassessing risk frameworks amid uncertainty over the Federal Reserve’s policy direction under nominee Kevin Warsh. **Commodities: Gold Surges, Oil Softens** Precious metals are rallying while energy markets remain subdued. * **Gold:** Spot gold rebounded sharply, climbing over **3%** to trade around **$4,837 per ounce**. Prices are reacting to the partial US government shutdown and the absence of key economic data releases. * **Silver:** Followed the trend, rising nearly **6%** to trade above **$84 per ounce**. * **Oil:** Crude prices remain lower, with **Brent** hovering around **$65.81** and **WTI** at **$61.71**, reflecting eased geopolitical tensions and softer demand signals. **Global Economic Watch** * **US Shutdown:** Markets are bracing for a data vacuum as a partial US government shutdown delays the release of the January employment report. * **Asian Markets:** South Korea's **KOSPI** rebounded **5%**, led by chipmakers Samsung and SK Hynix, stabilizing after a sharp sell-off. * **Currency:** The US Dollar remains firm, supported by positive economic readings despite the fiscal standoff in Washington.