US stock indices declined on Tuesday as US treasury yields gain ground following data.

Earlier US data showed labor costs rose 1.2% in the first quarter, passing estimates of a 1% increase, and becoming the largest increase since the third quarter of 2022.

US 10-year treasury yields rose by 4.5 basis points to 4.659%, while 30-year yields rose by 3 basis points to 4.767%.

The changes come ahead of the Federal Reserves policy decisions later this week, expected to maintain interest rates unchanged.

On trading, Dow Jones fell 0.8%, or 300 points as of 17:25 GMT to 38,080, while SP 500 fell 0.6%, or 32 points to 5,083, as NASDAQ slid 0.8%, or 124 points to 15,858.