Applied Materials Inc. suffered the worst single-day stock decline in five years after giving a disappointing sales and profit forecast, renewing concerns that the US trade dispute with China is weighing on demand.

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 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,