For the past few trading sessions, equity markets of China, HongKong, Taiwan, Brazil, India are correcting after a heady run up last month. US equity markets also are witnessing volatility after US fed had cut interest rate by 0.25%, also aiding the volatility is climb of dollar against the Yen. Commodities like copper, zinc, lead, nickel also are correcting sharply which helps in checking industrial output prices and construction costs. Gold and silver also are range bound but sustaining their gains due to volatility in equity along with rise in crude oil prices and fears of inflation persisting across the asset prices. Subprime mess in the US has not played it's final role yet on credit markets and many more bad news may come out of financial institutions and banks which can affect sentiment among equity and currency markets. In the near term, continued firmness in food prices and crude oil pose caution among market participants and thus volatility.