Market Brief: Global & Domestic Overview — January 30, 2026 **Global Equities: Tech Earnings Drive Divergence** Global markets are closing the week on a mixed note as investors digest a volatile corporate earnings season and prepare for major fiscal updates. In the United States, the S&P 500 hovered near **6,978**, while the Dow Jones Industrial Average held steady around **49,015**. The tech-heavy Nasdaq Composite traded near **23,857**, reflecting a sharp divergence in major technology stocks. Microsoft shares faced significant pressure, dropping approximately **10%** despite beating revenue estimates, as concerns over slowing cloud growth weighed on sentiment. In contrast, Meta Platforms surged **10%** following strong quarterly results, highlighting the uneven impact of AI monetization strategies across the "Magnificent Seven." Tesla also struggled, dipping more than **3%**, while software stocks like Salesforce and Adobe saw corrections between **2%** and **6%**. **Asian & Indian Markets: Pre-Budget Nerves** In Asia, Indian equity benchmarks witnessed a sharp bout of profit-taking ahead of the Union Budget scheduled for this Sunday. The Nifty 50 slipped below the **25,300** mark, trading around **25,275**, down nearly **0.6%**. The Sensex shed over **400 points** to trade near **82,145**. Investors in the region are turning defensive, with significant selling observed in metal and banking sectors. Heavyweights like Vedanta and Hindalco dropped between **4%** and **5%**, while banking majors like HDFC Bank and ICICI Bank traded flat to negative. Conversely, select FMCG stocks like Britannia and Nestle provided some cushion, rising approximately **2%**. **Commodities: Gold Volatility & Oil Prices** The commodities market is witnessing heightened volatility. Gold, recently a preferred safe-haven asset reaching highs near **$5,600**, experienced a sharp correction. Prices dipped significantly, with some indices showing a decline of nearly **4%** to **10%** depending on the contract, trading around the **$5,200** to **$5,400** per ounce range. Silver followed suit, dropping nearly **4%** to trade near **$110**. Oil prices remained relatively soft but volatile. WTI Crude traded around **$64.30** per barrel, while Brent Crude hovered near **$70.70**. Market participants are closely watching geopolitical developments, particularly tensions involving Iran, which continue to underpin a risk premium despite demand-side concerns. **Cryptocurrency: Bitcoin Under Pressure** The cryptocurrency market is struggling to regain momentum. Bitcoin (BTC) has failed to hold the critical **$88,000** level, currently trading under pressure as institutional outflows from ETFs intensify. The digital asset has shed roughly **30%** of its value since its October peaks, with investors seemingly shifting preference back toward traditional safe havens or cash amid the high-interest-rate environment. **Economic Outlook & Policy** On the macro front, the Federal Reserve has maintained interest rates in the **3.00%** to **3.75%** range, citing "elevated" economic uncertainty. Inflation remains a key watchpoint, with recent data showing US inflation around **2.7%**. The dollar index (DXY) has strengthened slightly to **96.55**, putting pressure on emerging market currencies. Looking ahead, the immediate focus shifts to the Indian Union Budget on Sunday, which is expected to drive near-term sentiment in South Asian markets, while global investors await further clarity on US trade policies and the next Federal Reserve Chair announcement.