The

iShares Goldman Sachs Networking

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exchange-traded fund was the biggest loser Monday, shedding nearly 3% of its value. Of the fund's top 10 holdings, nine were on the downside.

Corning

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was down $1.37, or 6%, to $20.78;

Marvell Technology

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was trading down $2.38, or 5.7%, to $39.35; and

Cisco Systems

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was trading off 47 cents, or 2.4%, to $18.92. The Goldman Sachs Networking ETF was recently trading down 84 cents to $27.93.

The

iShares Dow Jones U.S. Industrial

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ETF moved slightly higher ahead of the unofficial start of earnings season. After the bell,

Alcoa

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posts its second-quarter results. Analysts polled by Thomson First Call project earnings of 86 cents a share on revenue of $8.01 billion. On Friday,

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General Electric

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is scheduled to release its second-quarter earnings. Shares of the ETF were recently trading up 5 cents to $61.28.

Weakness in semiconductor stocks sent shares of the

Merrill Lynch Semiconductor HOLDRs

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ETF about 2% lower. Big losers in the ETF included

SanDisk

(SNDK)

, which was down $3.09, or 6.5%, to $44.36; and

Advanced Micro Devices

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, which was lower by 91 cents, or 3.9%, to $22.65. The chip ETF was trading down 68 cents to $31.12.

After taking a hit last week because of worries about North Korea's missile launch, several Pacific Rim ETFs were on the upswing Monday. The

iShares MSCI Japan Index

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was trading up 19 cents, or 1.4%, to $13.67.

The iShares MSCI Taiwan Index

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, meanwhile, was up 19 cents, or 1.5%, to $12.61.