The stock exchanges in New York opened on Tuesday with significant losses.

Investors are putting the brakes on after the loud boom of the past few days, focusing on the two-day policy meeting of central bank umbrella Federal Reserve. Caution mainly affects funds that previously benefited from the hope of an economic recovery.

After a few minutes of trading, the Dow-Jones index was 0.9 percent lower at 27,322 points. The broad-based S&P 500 also lost 0.9 percent to 3205 points, and tech exchange Nasdaq dropped 0.4 percent to 9891 points. On Monday, the S&P 500 made up for all this year’s losses.

Aviation funds American Airlines, United Airlines and Delta Air Lines, lost up to 7.2 percent. In previous sessions, aviation still benefited from optimism about the course of the crisis.

Other companies in the travel and tourism sector are also in the red, including the Marriott International hotel chain (minus 3 percent).

Retail chain Macy’s rose 8.8 percent in the first minutes after the opening bell. Investors took note that recently reopened stores are doing good business.

The department store chain, which recently raised 4.5 billion in the financing, closed last quarter with a substantial loss.

Figures from Tiffany jewellery chains were welcomed with a price gain of 1.7. Industry colleague Signet Jewelers also opened the books. These results were less popular, according to the 10 percent loss.