*

Futures price in extra 25bps Fed easing this year

*

Stocks last down in choppy early trading

(Updates to early New York trading)

By Caroline Valetkevitch

NEW YORK April 7 (Reuters) -

Major stock indexes were down but off the lows of the day in

choppy trading on Monday as the White House denied a report that

U.S. President Donald Trump is considering a 90-day pause in

tariffs for all countries except China. The U.S. dollar was

higher.

Wall Street indexes started the day sharply lower but

reversed course after a report that White House economic adviser

Kevin Hassett said in an interview that Trump was considering

the 90-day tariff pause.

The Dow Jones Industrial Average fell 469.46

points, or 1.23%, to 37,845.40, the S&P 500 fell 28.89

points, or 0.54%, to 5,046.66 and the Nasdaq Composite

fell 3.62 points, or 0.02%, to 15,584.16.

MSCI's gauge of stocks across the globe

fell 12.42 points, or 1.63%, to 751.87. The pan-European STOXX

600 index fell 2.58%.

Earlier the S&P 500 had been on pace to confirm a bear

market amid concern Trump was showing no sign of backing away

from his sweeping tariff plans.

Traders bet the increasing risk of recession could result in

the Federal Reserve cutting interest rates as early as May.

Futures markets moved to price in almost five quarter-point cuts

in U.S. rates this year.

The dollar index, which measures the greenback

against a basket of currencies including the yen and the euro,

rose 0.72% to 103.34, with the euro down 0.36% at

$1.0919.

Against the Japanese yen, the dollar strengthened

0.48% to 147.64.

(Editing by Kim Coghill, Himani Sarkar, Shri Navaratnam, Hugh

Lawson and Nick Zieminski)