U.S. markets started flat Wednesday after the People's Bank of China said would raise lending rates by 0.25 percentage points.
The central Chinese bank said it would raise the benchmark lending rate from 6.31 percent to 6.56 percent. The third rate hike of the year is intended to slow the economy to curb inflation.
On Wall Street in midmorning trading, the Dow Jones industrial average added 0.01 percent, 1.62 points, to 12,571.49. The Standard & Poor's 500 index shed 0.29 percent, 3.89 points, to 1,333.99. The Nasdaq composite index slid 0.2 percent, 5.69, to 2,820.08.
The benchmark 10-year treasury note rose 6/32 to yield 3.102.
The euro fell to $1.4325 from Tuesday's $1.4429. Against the yen, the dollar fell to 80.91 yen from Tuesday's 81.07 yen.
In Tokyo, the Nikkei 225 index rose 1.1 percent, 110.02, to 10,082.48.
The Nikkei index touched 10,000 points Tuesday, but Wednesday was the first close above 10,000 since March 11, which is the day the massive earthquake struck.