European Shares Plummet Amid ECB Rate Hike Expectations

European shares were in the red on Thursday as investors eyed an expected interest rate hike from the European Central Bank.

The benchmark Stoxx 600 index fell by 0.12% to 639.66, having reached a six-week low on Wednesday amid rising tensions over Iran.

The price of Brent crude oil was up 0.48% at $101.70 per barrel, adding to inflationary pressures that central banks worldwide are expected to address.

US President Donald Trump claimed that Iran's military capability had been wiped out, but said Tehran was prolonging the war to harm his Republican Party's chances in the mid-term elections.

In economic news, Germany's inflation rate remained at 2.9% in August, with energy costs offsetting softer food and core price pressures.