Recognizing human emotions/attitudes from speech cues has gained increased attention recently. Most previous work has focused primarily on suprasegmental prosodic features calculated at the utterance level for modeling against details at the segmental phoneme level. Based on the hypothesis that different emotions have varying effects on the properties of the different speech sounds, this paper investigates the usefulness of phoneme-level modeling for the classification of emotional states from speech. Hidden Markov models (HMM) based on short-term spectral features are used for this purpose using data obtained from a recording of an actress' expressing 4 different emotional states - anger,happiness, neutral, and sadness. We designed and compared two sets of HMM classifiers: a generic set of "emotional speech" HMMs (one for each emotion) and a set of broad phonetic-class based HMMs for each emotion type considered. Five broad phonetic classes were used to explore the effect of emotional coloring on different phoneme classes, and it was found that spectral properties of vowel sounds were the best indicator of emotions in terms of the classification performance. The experiments also showed that the better performance can be obtained by using phoneme-class classifiers than generic "emotional" HMM classifier and classifiers based on global prosodic features. To see the complementary effect of the prosodic and spectral features, the two classifiers were combined at the decision level. The improvement was 0.55% in absolute (0.7% relatively) compared with the result from phoneme-class based HMM classifier.