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We're in a challenging trading environment and you better get used to it, Jim Cramer told his Mad Money viewers Monday, after a tough day on Wall Street. On one hand, it's perfectly normal for the market to sell off a bit at these levels, Cramer said, but on the other hand, there are controversies all over the place that are holding stocks back.

Many of those controversies are in tech -- a sector that's already prone to dramatic swings.

In the news today was Facebook (FB) , a company seemingly oblivious to its continued political problems. Then there's Uber, which temporarily suspended its self-driving car testing program in several U.S. cities after one of its cars struck and killed a pedestrian.

We all knew that self-driving cars wouldn't be perfect, Cramer said, but they are still far better than humans.

Beyond tech, investors are still fretting over the banks, with a Fed meeting looming. Higher interest rates could weigh on REITs and high-paying dividend stocks. Steel and aluminum stocks continue to be mired in tariff talks, while the oil and gas names are also heading lower.

There are some bright spots in consumer discretionary stocks, Cramer said, but that's not enough to buoy the entire market. He reiterated that panic is never a strategy, but there's no harm in taking some profits and waiting for a better day.

Cramer and the AAP team say selloffs like Monday's are why they always like to keep a healthy amount of cash on hand. But this kind of volatility can be devastating to those who aren't prepared. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.

The Fundamentals of Facebook

There's a battle raging among the shareholders of Facebook, Cramer told viewers, and it's a classic case of the fundamentals vs. "who cares about the fundamentals?" The battle has gotten so heated, Cramer said, that he even trimmed his position at his charitable trust, Action Alerts PLUS -- something he hasn't done in ages.

The fundamentals at Facebook are still strong, with shares trading at just 19 times earnings while the company is growing revenues by a staggering 47%. But right now, as controversy again surrounds the company regarding how it handles user data and whether that data made it into the hands of the Trump campaign in 2016, the fundamentals just don't matter.

Will users post less because of this latest debacle? Probably not. Will advertisers spend less with Facebook? Probably not. But at the moment, investors just don't care. They don't like the stock at any price, it seems.

Cramer said in order for shares to find their footing, Facebook has to get ahead of the news flow and share need to stop falling. That make take a few more days, which is why investors shouldn't try and time the bottom. It's better to be late than early in this case, Cramer concluded. 

Over on Real Money, Cramer says, "Seriously, does anyone think that users will stop using Facebook or its Instagram site because it let someone misuse data?" Get more of Cramer's insights with a free trial subscription to Real Money.

Get Crafty with Etsy 

While most of technology is getting slaughtered, Cramer found one name that still has a fabulous story to tell and is only getting cheaper as its shares slide with the broader market. That company was online marketplace Etsy (ETSY) .

Etsy shares are up 37% in just the past three months and Cramer said that move was fueled 100% by strong earnings. When the company last reported, it posted a three-cents-a-share earnings beat with a 23% surge in revenues, with robust full-year guidance to boot.

Shortly after the company's IPO, many investors were worried that Etsy would get steamrolled by Amazon (AMZN) , but that's turned out to not to be the case, and Etsy has proven to be quite resilient. During 2017, the company replaced most of its senior leadership, including its CFO, CEO and chief technology officer. The new team has been on fire, Cramer said, which makes this one of the first tech stocks that will bounce when the market recovers.

Shares of Etsy were off 1.6% at the close today. 

Executive Decision: Cigna

In his "Executive Decision" segment, Cramer sat down with David Cordani, president and CEO of health insurance provider Cigna (CI) , which last week announced it's acquiring Express Scripts (ESRX) for $67 billion, only to see it's own shares plunge from $204 to $166.

Cordani explained that Cigna was growing fine without the Express Scripts acquisition, but in an industry that's rapidly changing, innovation is required and that's what the merger was all about. Pharmaceuticals now make up 20% of healthcare costs, up from just 10% a few years ago, Cordani said.

While it's true that Cigna already had an in-house pharmacy benefit manager, this deal is all about broadening their services and touching more lives, Cordani explained. It will be accretive to earnings in the first year and allows Cigna to better reach individuals, employers and government programs alike.

Cramer said he's a fan of the merger and said Cigna will be well positioned for future growth.

Executive Decision: Emerson Electric

In his second "Executive Decision" segment, Cramer spoke with David Farr, chairman and CEO of Emerson Electric (EMR) , a company Cramer said has put more money in shareholders' pockets than any other he's seen.

Farr said Emerson's automation business continues to be their strongest, and the company is benefiting from both tax reform and regulation reform. After years of underinvesting, Farr said, American manufacturing is now poised to begin reinvesting.

When asked about tariffs, Farr said they're just part of the Trump package and Emerson "will work through it." He was encouraged by the appointment of Larry Kudlow as economic adviser, saying that Kudlow is a great addition to the economic team at the White House.

Turning to the issue of China, Farr said that China has been taking advantage of the U.S. for years and now that they're no longer an emerging country, it's time to start treating them like a global competitor. Farr said when they sell products into China, they pay a 10% to 20% tariff on their goods. When China imports into the U.S.? Zero tariffs. That needs to change.

Finally, when asked whether he'd be interested in buying assets from the beleaguered General Electric (GE) , Farr said that GE has great assets and he would love to do more acquisitions. 

Lightning Round 

In the Lightning Round, Cramer was bullish on Ventas (VTR) , The Carlyle Group (CG) , Parker Hannifin (PH) , Synaptics (SYNA) , Travelers Companies (TRV) , Chubb (CB) , Camping World (CWH) and Lam Research (LRCX) .

Cramer was bearish on Oclaro (OCLR) , Ship Finance International (SFL) and American International Group (AIG) .

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At the time of publication, Cramer's Action Alerts PLUS had a position in FB, AMZN.