Chip stocks were the biggest losers of the session Thursday. Shares of Nvidia ( NVDA) sank nearly 10% after being downgraded by Caris & Co. Among other names, Applied Materials ( AMAT) was dropping 6.6%, Texas Instruments ( TXN) was lower by 2.5% and Intel ( INTC) was off 1.8%. The PowerShares Dynamic Semiconductors ( PSI) ETF was recently down 4.4% to $16.92. The Semiconductor HOLDRs ( SMH) was falling by 3.8% to $33.15. The iShares Goldman Sachs Semiconductor ( IGW) was giving back 3.5% to $59.60. Oil-related ETFs were also among the biggest decliners as crude sold off. The United States Oil ( USO) ETF was recently falling 2.6% to $43.09. The iPath Goldman Sachs Crude Oil ( OIL) ETF was down 2.4% to $31.84. The Oil Services HOLDRs ( OIH) ETF was dipping 1.1% to $128.65. Meanwhile, the Telecom HOLDRs ( TTH) ETF was stronger as holdings AT&T ( T) and Verizon ( VZ) rose 1.7%. The ETF was tacking on 52 cents, or 1.5%, to $34.85. Other telecom-related ETFs were also faring well. The iShares Dow Jones U.S. Telecom ( IYZ) ETF was tacking on 0.7% to $29.61. The Vanguard Telecom Services ( VOX) ETF was higher by 0.7% to $73.81. The Retail HOLDRs ( RTH) was also one of the session's winners, rising 1% as holding Kohl's ( KSS) was higher by 2.4%. The ETF was gaining 97 cents to $102.92.