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The steep declines in U.S. stock futures should not be what's driving the action on Wall Street, CNBC's Jim Cramer said Tuesday, on a day that saw the Dow futures down 400 points and to open regular trading in correction territory.

In his latest knock on the importance of the premarket, Cramer said in a "Squawk on the Street" rant: "Stop fearing the futures. There's probably like, I don't know maybe, 10 guys in a room in their pajamas at 4-o'clock this morning."

Always an earlier riser himself, Cramer railed: "I was up this morning at 3:30 looking at the futures. I said, 'Oh my, there's someone in their pajamas right now, selling them down.'"

"God love them. If that's the game we're involved in forget it," he continued—saying investors should pick and choose stocks based on whether there are good buys or not, rather than make knee-jerk reactions to sell.