The European stock market is currently experiencing a negative trend as recent data reveals that UK consumer prices fell less than expected in March, fueling

speculations about further interest rate hikes.

The STOXX 600 index .STOXX is down by 0.2%, with real estate .SX86P and technology shares .SX8P down by 2% and 1.3% respectively. London's blue-chip stocks .FTSE have also gone down by 0.3% following the inflation data release, and the market is now anticipating the European Central Bank's (ECB) next move after the ECB chief economist backed a further interest rate increase but suggested that its size will depend on incoming data.

The ASML Holdings ASML.AS shares fell approximately 2.5% due to the demand slowdown overshadowing the Q1 beat of the key supplier to computer chip makers. The investors are now eagerly waiting for the euro zone inflation data, which is due at 0900 GMT, to gain more insights into the situation. Photo by forextime.com, Wikimedia commons.