European Stocks Decline Amid Resurgence of Recession Fears

European stocks fell on Wednesday following losses on Wall Street the previous night, with the European Stoxx 600 index dropping by 0.4% impacted by a 1.3% decline in technology stocks. The shares of ASML International plummeted 10%, becoming the biggest loser on the index after the Dutch semiconductor equipment manufacturer reported a decline in first-quarter orders, attributing it to market conditions despite revenues exceeding expectations. Oil and gas stocks rose by 0.7%, following oil prices. While the earnings of Microsoft and Alphabet surpassed expectations, recession fears in the world's largest economy undermined investor sentiment.