HP Inc cut its annual profit forecast on Wednesday as it expects a moderation in PC market growth at a time when the global economic environment remains volatile, sending its shares down 14% in extended trading.

HP Inc. dropped about 15% in extended trading after the company’s profit outlook fell short of estimates and it cut the annual earnings forecast, pointing toward a weaker economy and continuing costs from US tariffs on goods from China.

For the quarter ended April 30, HP reported adjusted earnings per share of 71 cents, down from 82 cents in the same quarter of the previous year, on revenue of $13.2 billion, up 3.3% year-over-year. Adjusted earnings fell short of the 71 cents per share expected by analysts, while revenue came in ahead of an expected $13.06 billion.