NEW DELHI / WASHINGTON — The world witnessed significant geopolitical and economic shifts on February 4, 2026, headlined by a transformative trade deal between the world’s two largest democracies and a sharp escalation in the Eastern European theater of war.

1. Historic India-US Trade Deal Sparks Market Euphoria

In a move described as "rocket fuel" for the economy, India and the United States officially announced a landmark trade agreement. The pact reportedly slashes industrial goods tariffs from an average of 13.5% to zero, aiming to integrate supply chains more deeply.

• Market Reaction: India’s Sensex surged by over 3,000 points, while the Nifty 50 crossed the 25,700 mark in a record-breaking rally.
• Energy & Oil: U.S. President Donald Trump claimed that India has agreed to significantly reduce or halt Russian oil imports as part of the deal. However, Indian officials maintained that the agreement secures national interests and retains flexibility in energy sourcing.
• Strategic Ties: External Affairs Minister S. Jaishankar and U.S. Secretary of State Marco Rubio committed to strengthening the Quad partnership, viewing the trade deal as a cornerstone of Indo-Pacific stability.

2. Russia Intensifies Strikes Ahead of Peace Talks

Despite reports of upcoming diplomatic negotiations, Russian forces launched a massive wave of night-time missile and drone strikes across major Ukrainian cities, including Kyiv and Kharkiv. The use of advanced Zircon hypersonic missiles was reported, targeting critical infrastructure. This escalation comes just 24 hours before a high-stakes peace summit, casting a shadow over the potential for a ceasefire.

3. Expiration of New START Treaty

The Kremlin issued a stark warning today as the New START Treaty—the last remaining nuclear arms control agreement between the U.S. and Russia—is set to expire on February 5, 2026. Global security experts have labeled this a "dangerous vacuum," as its expiration removes the legal limits on the world’s two largest nuclear arsenals and ends mutual inspections.

4. Middle East Tensions and the Rafah Reopening

Tensions between Washington and Tehran spiked as a U.S. F-35 fighter jet shot down an Iranian Shahed-139 drone approaching the USS Abraham Lincoln in the Middle East. Meanwhile, the Rafah border crossing between Egypt and Gaza saw its first major movement of civilians, though reports emerged of intense security screenings and interrogations by Israeli forces.

5. Global Observances: World Cancer Day

February 4 marks World Cancer Day. The World Health Organization (WHO) and global leaders called for "equitable access" to life-saving treatments, highlighting that 40 people are diagnosed with the disease every minute globally. Scientific progress in pediatric oncology and cervical cancer elimination remained the focal points of this year's "Close the Care Gap" campaign.

6. Notable Briefs

• Libya: Presidential candidate Saif al-Islam Gaddafi was reportedly assassinated in a targeted shooting, plunging the Libyan political transition into further chaos.
• Sports: Controversy continues to surround the 2026 T20 World Cup as the ICC takes a firm stand against Pakistan's call for a boycott of matches scheduled in India.
• Technology: Spain announced plans to ban social media for children under 16, joining a growing European movement to regulate digital impact on youth.