European shares plunged at the beginning of September, due to fears of sharp increases in interest rates and record inflation rates in the region, which pushed the Stoxx 600 index to its lowest level in seven weeks on Thursday.
According to Arabiya Net, the European index declined for the fifth consecutive day, declining 0.8%, by 07:15 GMT.
All sectors fell during trading and interest rate sensitive technology stocks were among the biggest losers. Mining sector shares fell 1.8 after the metal prices fell, according to Reuters.
And money markets in the eurozone expect an 80% chance that the European Central Bank will raise interest rates by 75 basis points at its meeting next week, compared to just over 50%, on Wednesday.
German Lufthansa shares fell 3.2% after the pilots' union announced yesterday a strike scheduled to start on Friday after the two parties failed to reach an agreement on wages. Luxury goods stocks came under pressure, and LVMH, owner of Louis Vuitton, Hermes and Burberry, fell between 1.6% and 2.2%.
Data showed German retail sales unexpectedly rose in July as the online retail sales and food sectors showed a recovery.
