Exchanged-traded funds tracking the oil and energy sector were among the worst decliners of Tuesday's losing session, as oil futures dropped.

Recently, the front-month September crude contract shed $1.58 to $73.31 a barrel. The SPDR S&P Oil & Gas Exploration & Production ( XOP) ETF was lower by $1.40, or 3%, to $45.63. The iShares Dow Jones U.S. Oil & Gas Exploration Index ( IEO) was down $1.68, or 2.8%, to $57.67. The Ultra Oil & Gas ProShares ( DIG) shed $3.42, or 3.1%, to $108.82. The United States Oil ( USO) ETF was off $1.35, or 2.4%, to $55.03.

Financial-related bundled securities were also performing poorly following American Express' ( AXP) latest earnings report. The financial services giant topped analysts' profit estimates, but it said it had to increase its loan-loss reserve because of a higher rate of delinquencies. The stock was off more than 3%.

The First Trust Financials AlphaDEX ( FXO) ETF was lower by 55 cents, or 2.8%, to $18.90. The Ultra Financials ProShares ( UYG) was off by $1.66, or 2.7%, to $60.64. The PowerShares Dynamic Financials ( PFI) was down 33 cents, or 1.3%, to $25.82.

ETFs tracking the semiconductor sector were also weaker, due to a weak sales outlook from Texas Instruments ( TXN), which reported earnings following the previous close. The chip giant's shares were down more than 3%.

The Ultra Semiconductor ProShares ( USD) was sliding 66 cents, or 0.7%, to $91.24. The SPDR S&P Semiconductor ( XSD) was losing 89 cents, or 1.6%, to $54.98. The PowerShares Dynamic Semiconductors ( PSI) declined by 18 cents, or 0.9%, to $20.01.

On the other hand, the B2B Internet HOLDRs ( BHH) ETF was one of few winners, thanks to a 3% rise in holding Ariba ( ARBA). The ETF was higher by a penny, or 0.6%, to $1.98.

The Biotech HOLDRs ( BBH) was also gaining ground, thanks to Biogen-Idec's ( BIIB) second-quarter earnings report. The company also raised its 2007 forecast, and the stock was higher by 3.9%. The Biotech HOLDRs was adding $1.97, or 1.2%, to $170.04.

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