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Cramer says investors selling travel stocks after J&J Covid vaccine pause are mistaken

Jim Cramer
Scott Mlyn | CNBC

CNBC's Jim Cramer said Tuesday he was not concerned about the stock market impact stemming from U.S. regulators' recommendation for a pause in the use of Johnson & Johnson's one-shot Covid vaccine.

U.S. stock futures turned lower in a sudden move earlier Tuesday after the Food and Drug Administration asked states to temporarily stop administering J&J's vaccine while it investigates reported rare cases of blood clotting in six of millions of vaccine recipients. Futures shed some of the losses, however, after the stronger-than-expected March inflation report was released.

The tech-heavy Nasdaq closed higher by just over 1% Tuesday, while the Dow Jones Industrial Average fell 68 points, or 0.2%. The S&P 500 advanced 0.33% to finish at a record closing high of 4,141.59.

"I don't think this is really going to impact the market nearly as much as it indicated" in the premarket, the "Mad Money" host said, referring to the J&J vaccine pause. "I don't expect this to impact travel and leisure at all. I think people who are selling those stocks are mistaken."

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