A Swiss government panel recommended that the country sell about half its gold reserves and this raised fears of other countries that do the same and inundate the market.
A. reserves and this raised fears of other countries that
B. reserves, which, as a result, raised fears of other countries that
C. reserves; as a result, they feared that other countries would
D. reserves, with fears raised that other countries would
E. reserves, raising fears that other countries would

OA E
I selected E over C because C was wordy beccause of "as a result"
IS my explanation correct?