European stocks moved sharply lower on Wednesday, with investors rattled by the latest political turmoil in the U.S. that is feared to put President Donald Trump's pro-growth agenda at risk.

The Nasdaq on Wednesday saw its worst one-day decline since the day after U.K.'s vote to exit from the European Union rattled markets, as turmoil in Washington cast doubt on President Donald Trump's pro-growth agenda that had helped to drive stocks to records.

Asian equity markets were broadly lower, extending a selloff in the U.S. overnight, as doubts increased that the Trump administration would be able to deliver on its policy goals due to mounting political problems.