Applied Materials was the worst-performing stock in the S&P 500 Friday, a day after the semiconductor equipment manufacturer gave weaker-than-expected guidance as global economic and tariff worries impact its business,

Applied Materials shares slid about 15% in premarket trading on Friday after the company issued disappointing sales and profit forecast, stoking investor concerns that the U.S.-China trade dispute was eroding demand.

Applied Materials' stock price slumped by double digits after the semiconductor equipment maker reported a project revenue decline amid tariff worries in China.