Stocks tumbled Thursday, erasing early gains, as investors picked through the health care and banking initiatives in President Obama's federal budget amid continued worries about the economy.
Financial shares led a slim advance Thursday morning after Britain announced a plan to insure bank assets amid a worsening economy and Citigroup reportedly neared a deal for the U.S. government to take a bigger stake in the company.
Prices for Treasurys fell Thursday morning as traders responded to reports on President Obama's budget plan, another auction and signs that stocks could open higher.
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