Wall St falls in lead up to Fed verdict after hot labor costs data

April 30 - Wall Street's main indexes fell on Tuesday with caution prevailing ahead of the Federal Reserve's interest-rate decision and as stronger-than-expected labor costs hinted at persistent inflation.

"It doesn't really take interest rate reductions off the table, but it does mean that this number is certainly not going to help." On the earnings front, GE HealthCare, opens new tab, opens new tab lost 9.6% after the medical equipment firm missed estimates for first-quarter revenue, while McDonald's , opens new tab fell 0.9% as it missed profit estimates for the first time in two years.

U.S. equities have had a rough April as elevated inflation numbers sharply pulled back bets on interest rate cuts, while heightened tensions in the Middle East and earnings updates also added to the volatility.Meanwhile, a gauge of U.S. consumer confidence came in at 97 in April, against expectations of 104.

Tesla , opens new tab dipped 2.7% following a 15% surge in the previous session after a report that CEO Elon Musk had dismissed two senior executives and plans to lay off hundreds more employees.

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