Walk through the WAT for 2 + 3 * 4 on a stack machine:

| Instruction | Stack |
|-------------|-------|
| i64.const 2 | [2] |
| i64.const 3 | [2, 3] |
| i64.const 4 | [2, 3, 4] |
| i64.mul | [2, 12] |
| i64.add | [14] |

The parser's recursive descent produces the instruction order: deeper recursion (higher precedence) emits inner instructions that execute first.