Stay updated with Trending News Fox! Today’s top 5 Latest News Headlines in English Today: Market crash after Budget 2026, Carlos Alcaraz wins Australian Open, Pakistan’s T20 World Cup boycott, and more.
By Trending News Fox Editorial Team Published: February 2, 2026 | 11:10 AM IST
Today, February 2, 2026, the news cycle is dominated by the monumental ripple effects of the Union Budget, a generational shift in tennis history, and escalating diplomatic tensions in the Middle East. At Trending News Fox, we bring you the top 5 headlines that are shaping the global conversation today.
1. Markets Bleed: Sensex and Nifty Crash Following Budget 2026 “STT Shock”
The Indian stock market entered a high-voltage session this Monday as investors fully digested the fine print of the Union Budget 2026-27. Despite a record ₹12.2 lakh crore capital expenditure outlay, the mood on Dalal Street turned somber.
The STT Impact
The primary catalyst for the sell-off was the surprise hike in Securities Transaction Tax (STT) on derivatives.
- Futures: Rates increased to 0.05%.
- Options: Rates jumped to 0.15%.
Analysts estimate that investors lost over ₹10 lakh crore in market wealth during the opening hours of trade. While the IT sector remained a “sole gainer” due to favorable safe harbor provisions, heavyweights in the banking and tobacco sectors (like ITC) saw sharp declines. The market is currently grappling with the balance between long-term infrastructure growth and the immediate cost of trading.
2. Tennis History: Carlos Alcaraz Topples Djokovic to Complete Career Grand Slam
In a match for the ages at Melbourne Park, 22-year-old Carlos Alcaraz has officially ushered in a new era of men’s tennis. By defeating Novak Djokovic in a grueling four-set thriller (2-6, 6-2, 6-3, 7-5), Alcaraz became the youngest man in history to complete a Career Grand Slam.
A Generational Shift
The victory marks Alcaraz’s seventh Grand Slam title, placing him in an elite bracket of legends who have won all four majors. Djokovic, who showed remarkable grit throughout the tournament, praised the Spaniard’s “steely nerves,” remarking that it felt like playing against a wall of Spanish legends. For sports fans, this victory at the Australian Open 2026 is being hailed as the definitive passing of the torch.
3. T20 World Cup Crisis: Pakistan Announces “Partial Boycott” Against India
The sporting world is facing a diplomatic crisis as the Pakistan Cricket Board (PCB), reportedly acting on government directives, has announced it will not take the field for its high-profile match against India on February 15 in Colombo.
The Fallout
The decision stems from a long-standing dispute over tournament venues. While Pakistan will participate in other T20 World Cup matches, the refusal to play India triggers a forfeit of two points. The International Cricket Council (ICC) has issued a stern warning regarding the “long-term implications” for Pakistan’s membership, while the BCCI has stated that arrangements for the Colombo clash remain unchanged. This move has sent shockwaves through the cricketing community, potentially impacting broadcast revenues and tournament dynamics.
4. Middle East Tensions: Khamenei Warns of “Regional War” as US Increases Presence
Geopolitical stability is on a knife-edge following a series of warnings from Iran’s Supreme Leader, Ayatollah Ali Khamenei. Amidst intensified US military deployments in the region, Khamenei stated that any direct attack on the Islamic Republic would trigger a “coordinated regional war.”
Diplomatic Chessboard
The tension comes at a time when President Trump has suggested a strategic shift in energy, claiming India will soon pivot to Venezuelan oil as an alternative to Iranian supplies. Meanwhile, the US has reopened its mission in Venezuela after a seven-year hiatus, marking a massive realignment of global alliances. In Gaza, hopes for relief flicker as the Rafah crossing prepared for a limited reopening today, offering a rare window for medical evacuations.
5. New Income Tax Act 2025: What It Means for Your Salary from April
While the Budget speech did not alter current tax slabs, the biggest headline for the common man is the transition to the New Income Tax Act, 2025, which is set to replace the decades-old 1961 Act starting April 1, 2026.
Key Takeaways for Taxpayers:
- Simpler Filing: A new, intuitive filing system is expected to launch by June 2026.
- Revised Returns: Taxpayers now have until March 31 to file revised returns, a significant extension from the previous December deadline.
- TCS Relief: In a major win for travelers and students, Tax Collected at Source (TCS) on overseas tour packages and education remittances has been slashed from 5% to 2%.
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📋 5 Latest News Headlines in English Today: Frequently Asked Questions (FAQs)
1. The “STT Shock” & Market Crash: 5 Latest News Headlines in English Today
Q: Why did the Indian stock market crash today?
The market reacted negatively to the Union Budget 2026 announcement of a hike in Securities Transaction Tax (STT) on derivatives. Rates for Futures rose to 0.05% and Options to 0.15%, leading to a massive sell-off as traders braced for higher transaction costs.
Q: Which sectors were the hardest hit?
Banking, tobacco (specifically ITC), and infrastructure stocks saw significant declines. However, the IT sector remained resilient due to favorable safe harbor provisions for data centers and AI missions.
2. Carlos Alcaraz’s Historic Win: 5 Latest News Headlines in English Today
Q: What record did Carlos Alcaraz break at the 2026 Australian Open?
At 22 years old, Alcaraz became the youngest man in history to complete a Career Grand Slam (winning all four major titles) by defeating Novak Djokovic. He is only the sixth man in the Open Era to achieve this feat.
Q: What was the final score of the Alcaraz vs. Djokovic match?
In a grueling four-set battle, Alcaraz won 2-6, 6-2, 6-3, 7-5.
3. Pakistan’s T20 World Cup Boycott: 5 Latest News Headlines in English Today
Q: Why is Pakistan boycotting the match against India on February 15?
The Pakistan government announced a “selective participation” model in solidarity with Bangladesh, which was removed from the tournament after refusing to play matches in India. Pakistan will play other teams but refuses to take the field against India in Colombo.
Q: What happens to the points for the India-Pakistan match?
Under ICC rules, if a team forfeits or refuses to play, the opponent (India) will be awarded two points automatically. Pakistan also faces a significant hit to their Net Run Rate (NRR) and potential long-term sanctions from the ICC.
4. Middle East Crisis & US-Iran Tensions: 5 Latest News Headlines in English Today
Q: What did Ayatollah Khamenei warn about regarding the US?
Iran’s Supreme Leader warned that any military strike by the US would trigger a “regional war,” stating that conflict would not remain limited to Iran’s borders.
Q: What is President Trump’s stance on the escalating situation?
President Trump stated he remains “hopeful” for a deal with Tehran to avoid conflict, while simultaneously noting that the US has deployed “the most powerful ships in the world” to the region as a deterrent.
5. The New Income Tax Act, 2025: 5 Latest News Headlines in English Today
Q: When does the New Income Tax Act officially begin?
The new Act, which aims to modernize and simplify the 65-year-old 1961 Act, will come into effect from April 1, 2026.
Q: Is there any immediate relief for international travelers?
Yes. The TCS (Tax Collected at Source) on overseas tour packages has been reduced from 5% (and sometimes 20%) to a flat 2%, making international holidays significantly cheaper from this fiscal year.
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