But other observers said investors were more anxious about the dwindling prospect of rates easing as a consequence of inflation. "What the market is worried about is that maybe the Fed will be constrained ... and maybe it won't cut rates, given the concerns about inflation ... Whereas earlier, the prospect was the Fed would do whatever was necessary, now there's all this talk about inflation and there's a fear that maybe the Fed won't be able to. At the end of the day, I think they probably will have to cut rates, but that's several months away." On Friday, the Dow Jones Industrial Average shed 220 points, or 1.8 per cent, dropping below the 12,000 mark for the first time since March, while the S&P 500 lost almost 2 per cent to close at 1318. Full Article at The Australian