The DAX 40 deepened losses to close about 1.7% lower at 25,554 on Wednesday, a level last seen in late July, tracking its European peers. The escalation in the Middle East has pushed crude oil prices higher, bringing Brent crude above $100 a barrel, its highest level since last July, further fueling inflation concerns on the eve of the ECB's decision. The central bank is all but certain to raise interest rates from 2.25% to 2.5% on Thursday, with traders focused on the future policy path. Almost all sectors faced selling pressure, particularly energy-intensive industrials, techs, banks, financials and autos. Industrial giant Rheinmetall plunged more than 4%, reversing the solid gains it posted the previous day.