London: European stocks plummeted on news that Trump was poised to launch a major offensive against Iran. Major European stock indices fell more than 1 percent in Thursday trading after hopes for a quick end to the conflict in the Middle East faded following President Donald Trump's vow of a new wave of attacks on Iran.

According to Thai News Agency, Europe's STOXX 600 index fell 1.2 percent to 589.99 points this morning, with technology stocks declining nearly 3 percent, followed by mining stocks which dropped 2.7 percent. This mirrored declines in commodity and precious metal prices.

The investment sentiment turned negative after President Trump announced in a televised address Wednesday night that the US would launch a heavy offensive against Iran in the next two to three weeks to undermine its capabilities. This caused Brent crude oil prices to surge above $100 per barrel, rising nearly 7%, leading to a 1.2% jump in energy stocks, which were the only sectors still trading in positive territory.

Conversely, soaring oil prices have put immense pressure on airline stocks, with shares of Air France and Lufthansa both falling more than 3.7 percent. Delays in reopening the Strait of Hormuz, a key shipping route, continue to weigh on the stock market and undermine concerns about inflation and economic slowdown.

Furthermore, data from the London Stock Exchange Group (LSEG) indicates that the market is beginning to anticipate that the European Central Bank (ECB) may need to raise interest rates by 0.25 percent at least three times by the end of this year. This represents a complete shift from the market's previous expectation that the ECB would maintain its pre-war monetary policy. European stock markets will be closed on Good Friday, the Friday before Easter, a significant Christian holiday commemorating the crucifixion and death of Jesus to atone for humanity's sins, and Easter Monday, commemorating the resurrection of Jesus.