A red wine reduction sure sounds like an impressive, difficult thing to make in the kitchen, but it's actually surprisingly easy. It also makes for a great ingredients to a sauce and accompany a steak.
To begin, use a small saucepan and add 2 cups of chicken stock. Keep it on high heat until it boils down to about 1/2 cup. Transfer the stock to a bowl and keep it warm. Next, combine 1 cup of a good, fruity red wine (real wine not cooking) along with shallots, tomato paste, and fresh thyme in a medium saucepan. Cook over medium-high heat until it boils down to about 1/3 of a cup, then stir in the chicken stock and return it to a boil. Let the mixture reduce to about 2/3 cup.
Strain the mixture through a sieve into a bowl and discard the solids. Whisk in 5 teaspoons of butter, a teaspoon at a time, stirring until it melts. And there you have it! You can store this sauce to the side for later.
If you want to make this as a sauce to serve with your steak, cook the steaks normally then remove them and set to the side. Add the chicken stock to the pan and scrape up the left over frond (the brown bits) from inside the pan and continue with the directions as normal.
Feel free to experiment with the reduction as well by adding in your own blend of vegetables and spices, or use half chicken broth and half beef broth. There are plenty of combinations to try!