S&P 500 Gains and Losses Today: GE HealthCare Stock Plunges After Earnings Miss [Video]

Major U.S. equities indexes tumbled after a report from the Bureau of Labor Statistics showed a higher-than-expected jump in employee compensation during the first quarter of 2024. The accelerated wage growth was the latest data point suggesting the Federal Reserve may have more work to do as it aims to suppress inflation.

The S&P 500 fell 1.6% on Tuesday, wrapping up April in negative territory to complete the first losing month for the benchmark index since October. The Dow and the Nasdaq lost 1.5% and 2.0%, respectively.

GE HealthCare (GEHC) shares posted the widest losses of any S&P 500 stock, plunging 14.3% after the company reported weaker-than-expected sales and profits for the first quarter. The provider of medical devices reported year-over-year revenue declines in its Imaging, Ultrasound, and Patient Care Solutions segments, while its spending on research and development (R&D) moved higher.

Although Molson Coors (TAP) reported strong first-quarter results, beating top- and bottom-line predictions, …