Stocks steady in wake of China rate hike (AP)

Peter Giacchi of Fleet Specialist Inc. works on the floor of the New York Stock Exchange, Tuesday, Oct. 19, 2010, in New York. (AP Photo/Henny Ray Abrams)AP – Stock markets steadied Wednesday as the surprise of China’s first interest rate increase in three years slowly wore off. The dollar gave back the ground it clawed back in the wake of the rate hike, which had stoked investor worries about the global economic recovery.

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