NEW YORK (CNNMoney.com) - Stocks were mixed in early trading Thursday as investors eyed sinking oil prices and a selloff in stock markets overseas.

The Dow Jones industrial average (down 15.05 to 10,915.85, Charts) and the broader Standard & Poor's 500 index (down 0.75 to 1,255.40, Charts) both hovered around the breakeven about a half hour into the session.

The Nasdaq composite (down 6.27 to 2,145.53, Charts) lost 0.5 percent.

The European Central Bank hiked its key interest rate a quarter percentage point at its meeting in Madrid Thursday, in line with forecasts of economists, sparking concerns about rising global interest rates.

Asian markets ended lower, with Japan's benchmark Nikkei index tumbling 3 percent, and European shares were lower in early afternoon trading.

Oil prices sank for the third straight session Thursday on news of the death of Abu Musab al-Zarqawi, the leader of al Qaeda in Iraq.

U.S. light crude oil for July delivery fell 86 cents to $69.96 a barrel in electronic trading.

But concerns about inflation, the outlook for rates, and the stewardship of new Fed Chairman Ben Bernanke continued to dog investors on Wall Street.

The 30-stock Dow, the world's most widely watched market gauge, has tumbled more than 300 points this week and has lost 6.1 percent since May 10, when it came about 80 points shy of its all-time high.

On another day light on the economic calendar, investors will be watching the testimony of Fed Governor Donald Kohn when the Senate Banking committee considers his nomination to be vice chairman of the central bank.

They also will be anticipating Fed Chairman Ben Bernanke's comments on Friday, when he is set to give a speech at the Massachusetts Institute of Technology.

Treasury prices were higher, lowering the yield on the benchmark 10-year note to 5 percent, down from 5.02 percent late Wednesday. Treasury prices and yields move in opposite directions.

In currency trading, the dollar was higher against the euro and the yen.

COMEX gold for August delivery fell $11.60 to $621 an ounce.

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