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Hey guys, it's Erin Andrews from Calm Down with Erin & Carissa.
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I'm Suranjan Attawari with the BBC Business Update.
In the US President Trump is under growing pressure over his tax and spending plans as he tries to get what he calls his one big beautiful budget bill through Congress.
Shares on Wall Street had their worst day in more than a month on Wednesday after an auction of US government bonds met with lackluster demand as investors worry about the state of America's finances.
Erin Delmore reports And this week all eyes are on Congress which is tackling President Trump's signature tax cut bill.
A new analysis from the Congressional Budget Office shows that it would increase the federal deficit by $3 .8 trillion over the next 10 years.
It estimated that cuts to Medicaid, food stamps and other services that largely benefit the lowest income Americans would total around $1 trillion in reduced spending.
The U .S. has $36 trillion in debt.
Some Republicans have built entire political campaigns around reducing that number.
That's making it really hard for them to vote in favor of President Trump's bill.
And it now looks like traders are also worried about the prospect of the new budget bill worsening the deficit.
That concern is rattling stocks as well as bonds.
The stock market experienced its worst day in a month.
Nike says it's raising prices of many items in the U .S. next month, but stopped short of blaming President Trump's tariffs.
The sportswear giant makes most of its goods in China, Vietnam and Indonesia.
It says we regularly evaluate our business and make pricing adjustments as part of our seasonal planning.
OpenAI is to buy a startup run by ex -Apple designer Johnny Ive in a 6 .5 billion dollar deal.
Mr. Ive who designed the first iPhone will join the firm as creative head to develop devices tailored for generative AI.
I'm Saranjanathawari, we'll be back Check tomorrow with the next BBC Business Update.
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