Oracle stock took a dive as investors focused on disappointing financial forecasts from management, rather than data showing a healthy backlog of unbooked revenue. Late Tuesday morning, Oracle stock was down 4.

Oracle Corp. regaled Wall Street on Monday with talk about the future, enormous demand and some very large cloud-services contracts, but its stock continued a downward trend over concerns about growing costs associated with building out more data centers.

Oracle also projected adjusted earnings of $1.61 to $1.65 per share, falling short of the $1.79 per share that analysts had anticipated. Beyond the impact of earnings, this is a concerning period for the broader markets,

Shares of Oracle (NYSE: ORCL) are sliding on Tuesday. The stock lost 3.2% as of 2:45 p.m. ET today and was down as much as 7.5% earlier in the day. The drop comes as the S&P 500 declined 0.5% and the Nasdaq Composite gained 0.