Why does the European equity market suffer so much when there is a negative shock?

When a negative shock appears, no matter where in the world (US-China trade war, fall in Chinese activity, etc.), the euro zone’s equity market suffers much more than the US equity market, even though the US market is much more expensive (especially the technology component) than its European counterpart . Why might the European market be so sensitive to shocks? Equity investors clearly believe that the euro-zone economy is less resilient to shocks than the US economy. It has to be admitted that despite the current boost to domestic demand growth in the euro zone, the euro-zone economy remains more sensitive to shocks to global trade or Chinese growth than the United States.