All is not well in the land of ASML Holding NV, Europe’s most valuable tech firm. Dutch snap parliamentary elections on Wednesday will mark the end of Prime Minister Mark Rutte’s 13-year tenure, and an increasingly fragmented voter landscape reflects domestic frustration at odds with the image of one of Europe’s richest, most globalization-happy countries. And where Dutch voters go, other countries will likely follow.

The cost of living in the Netherlands will be top of mind when voters cast their ballot for the 150-seat “Tweede kamer,” after house prices rose 65% in five years and fueled anger over an affordability crisis. Then there’s the cost of decarbonization in a country sitting atop one of the world’s biggest gas fields and where farmers have staged protests over pollution curbs. And there’s a desire for tougher immigration policy, with Rutte’s successor as liberal candidate Dilan Yeşilgöz-Zegerius — herself a former refugee — saying the tolerant Dutch have become too tolerant. It’s not just asylum seekers: The Dutch parliament recently voted to end juicy tax breaks for expat workers, despite protestations from firms including ASML and Adyen NV.