NEW YORK ( TheStreet) -- Technology and financial ETFs were under pressure on Tuesday morning after IBM ( IBM) and Goldman Sachs ( GS) missed revenue estimates, disappointing investors. Both stocks were down more than 4% in morning trading.

The iShares North American Semiconductor ETF ( IGW) dropped 3.6% as shareholders sold Texas Instruments ( TXN) and Applied Materials ( AMAT), two of its top holdings.

Internet Architecture HOLDRS ( IAH) shed 2.8%. The fund has about 32% of its portfolio invested in IBM.

Regional bank stocks were being punished on Tuesday as many regionals prepare to declare results this week. The iShares Dow Jones Regional Banks Index ( IAT) was down 2.2%. Shares of U.S. Bancorp ( USB), its largest holding at 19% of the portfolio, are down 1.6%. Shares of BB&T ( BBT) and PNC Financial Services ( PNC) were also trending lower on Tuesday.

The iShares Dow Jones US Brokers-Dealers ( IAI), the ETF which offers the largest exposure to Goldman Sachs at 10% of its portfolio, slipped 0.9% in forenoon trading.

-- Reported by Shanthi Venkataraman in New York.

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