Futures slip as US calls for pause in J&J's single-dose COVID-19 vaccine

US stock index futures fell on Tuesday as US federal health agencies recommended pausing the use of Johnson & Johnson's single-dose COVID-19 vaccine, while investors awaited a reading on a key inflation report.

The call for pause in vaccine distribution comes after six recipients developed a rare disorder involving blood clots. J&J's shares shed 2.8% premarket, with the US Centers for Disease Control and Prevention set to hold a meeting on Wednesday to review the cases.

Cruise operators, airlines and hotel chains, which are poised to benefit from an economic reopening driven by vaccine distributions, dropped.

Carnival Corp, Royal Caribbean Cruises Ltd, American Airlines, United Airlines and Marriott International Inc shed between 1.8% and 3.4%.

"We don't think it's a major hiccup at this time," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.

"We need more time to study it. Its impact on reopening is minimal at the point. We still have two other vaccines."

Shares of rival US vaccine makers Pfizer Inc and Moderna Inc rose 1.6% and about 6%.

Focus now turns to the Labor Department's data that is expected to show US consumer prices rose 0.5% in March from 0.4% in February. The report is due at 8:30 a.m. ET (1230 GMT).

At 07:52 a.m. ET, Dow E-minis were down 112 points, or 0.33%, S&P 500 E-minis were down 10 points, or 0.24%. Nasdaq 100 E-minis were down 5 points, or 0.04%

A steady retreat in bond yields since the start of this month on expectations that a spike in inflation this year would be transitory has revived demand for high-growth tech stocks and sent the S&P 500 and the Dow to record highs.

Investors are also marking time ahead of the start of the first-quarter earnings season, with results from Goldman Sachs , JPMorgan and Wells Fargo on deck on Wednesday.

Analysts expect earnings for S&P 500 firms to jump 25% from a year ago, driven by strength in consumer discretionary and financial companies, according to Refinitiv IBES data.

Among stocks, US-listed shares of e-commerce firm JD.com and search giant Baidu fell 2.7% and 2% respectively as China's market regulator warned internet companies to stop using any banned practices.

Cryptocurrency and blockchain-related firms including Riot Blockchain and Marathon Digital Holdings jumped 8.3% and 7.5% as bitcoin prices soared 5%, a day ahead of listing of Coinbase, the largest US cryptocurrency exchange.