Intel stock dropped on Friday, dragged down by tariff worries despite a report that the company has reached a preliminary agreement with Taiwan Semiconductor Manufacturing (TSMC) about its chip-manufacturing operations.

Intel, planning a massive central Ohio facility, may have a new partner in its chipmaking operations, according to a report from The Information.

Intel and Taiwan Semiconductor Manufacturing Co have reached a preliminary agreement to form a joint venture to operate the U.S. chipmaker's factories, the Information reported on Thursday, citing two people involved in the discussions.