U.S. stock markets were mixed Wednesday after the U.S. Federal Reserve said it would extend a securities swap program to put pressure in interest rates.

The central bank's Open Market Committee's said the bank would continue with its "operation twist," in which it would use proceeds from maturing short-term securities to buy long-term securities.

The program is designed to convince businesses that interest rates would remain low for an extended period.

Markets opened with a modest downturn. The Fed's announcement was then met with a dull thud.

In early-afternoon trading on Wall Street, the Dow Jones industrial average shed 8.85 points, or 0.07 percent, to 12,828.48. The Nasdaq composite index rose from virtually flat to a gain of 3.40 points -- 0.12 percent -- to 2,933.16.

The Standard and Poor's 500 lost 1.28, or 0.09 percent, to 1,356.70.

The benchmark 10-year treasury note fell 12/32 to yield 1.664 percent.

The euro rose to $1.2705 from Tuesday's $1.2686. Against the yen, the dollar rose to 79.58 yen from Monday's 78.95 yen.

In Tokyo, the Nikkei 225 index added 1.11 percent, 96.44 points, to 8,752.31.

In London, the FTSE 100 index added 0.64 percent, 35.98, to 5,622.29. (c) UPI