Conditional formatting using percent option

Hi, I am unable to understand how the conditional formatting feature using percent option works.

I have this data set:

and when I try to apply the following conditional formatting on it:

Only the "Global" value gets highlighted. From what I understood about this feature, both the "Global" and "Europe" values should be highlighted based on this rule, since my understanding is that the percent is calculated the following:

-First value is 0% (Global).

-To determine value for each remaining field, we take 100% and divide by the remaining fields (2 fields). This equals 50% per field.

-Then second value is 50%.

-Third value is 100%.

Based on rule (0 <= Value < = 50%), both "Global" and "Europe" would be highlighted.

Microsoft has documentation here, but it's not clear.

Can someone please explain how does the percent feature work in conditional formatting?