Yesterday U.S.Fed obliged with a 0.5% rate cut but it failed to give weak markets reason to cheer. yen got further strength, Gold hit a new heigh, equity remained weak across the globe, nothing new happened because of obvious reasons. Jobless claims are on a rise in the U.S., more loss write off by another larger investment bank like UBS to the tune of U.S.12 Billion Dollars, crude oil still on the boil, high inflation across major economies, slight slowdown in chinese economic growth, further yen carry trade, volatile currencies, all this is making equity as an asset class least favour among investors/traders. All those large financial institutions that have booked huge losses due to exposure in U.S. subprime mortgage are now booking profits in equity markets across the globe in order to shore up their account books. This process will not be stopped at once as these turbulent times do tend to haunt financial markets for some time to come. Also with International Monetary Fund(IMF) bringing down GDP growth forecast for global economu from earlier 4.4% now to 4.1% is also making investors pessimistic. However, it seems market players are behaving too pessimistic when it comes to already severly beaten down equity markets, as this 4.1% GDP growth is still impressive on the back drop of this global mahem in equity markets with fears of U.S. slowdown. As sanity returns in the minds of these big players, equity will again find investment money that it deserves.