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(Bloomberg) -- US Gulf Coast refineries had already been placing fewer orders for crude oil from Mexico even ahead of President Donald Trump’s tariffs put in place this week. Most Read from BloombergRepublican Mayor Braces for Tariffs: ‘We Didn’t Budget for This’Trump Administration Plans to Eliminate Dozens of Housing OfficesHow Upzoning in Cambridge Broke the YIMBY MoldNYC’s Finances Are Sinking With Gauge Falling to 11-Year LowRemembering the Landscape Architect Who Embraced the CityAmerican

Networking chips designer Marvell Technology (NASDAQ: MRVL) announced better-than-expected revenue in Q4 CY2024, with sales up 27.4% year on year to $1.82 billion. The company expects next quarter’s revenue to be around $1.88 billion, close to analysts’ estimates. Its non-GAAP profit of $0.60 per share was in line with analysts’ consensus estimates.

Stocks rallied on Wednesday as President Trump granted a one month tariff exemption to automakers.

Healthcare stocks may see an upswing, one strategist said, especially if tech falters.

US stocks rose Wednesday following two days of steep declines. The rally came after the Trump administration announced a reprieve on auto tariffs for Canada and Mexico, easing investor concerns about a global trade war.

The Federal Reserve's 'Beige Book' report on the economy was shot through with the word "uncertainty" and its synonyms, as businesses braced for the impact of President Donald Trump's widening trade war.

Despite fierce backlash from the cryptocurrency community over his proposed strategic crypto reserve, President Donald Trump is set to unveil plans for it at the White House Crypto Summit on Friday. Commerce Secretary Howard Lutnick said Bitcoin would receive a “unique status” under Trump’s framework, while other cryptocurrencies would be regulated differently.