The Dow Jones Industrial Average tumbled triple digits on Monday morning as Donald Trump's failure to push through health care reform raised doubts over his ability to enact other promised changes.  

The Dow fell 0.66%, or 132 points, the S&P 500 was down 0.5%, and the Nasdaq declined 0.34%.

"It leaves investors worrying what's next," Charlie Ripley, investment strategist for Allianz Investment Management, told TheStreet. "We came into this knowing that a lot of these Trump agendas are going to take a lot longer than what investors have been anticipating, and we think the stumble with the health care bill is opening up the eyes of other investors to that notion."

The GOP's failure to repeal and replace Obamacare, a major campaign commitment, was viewed as a litmus test for Trump's ability to achieve major change in Washington. Financials received a big boost following Trump's surprise election in November and his promises of relaxed industry regulation, though those changes now look more distant. House Speaker Paul Ryan said during a press conference on Friday afternoon that tax reform had been made more difficult by the failure of the health care bill, but not impossible.

Financials weighed heavily on Wall Street on Monday. Bank of America (BAC) , Wells Fargo (WFC) , U.S. Bancorp (USB) , Goldman Sachs (GS)  and Morgan Stanley (MS) were sharply lower on Monday morning. The Financial Select Sector SPDR ETF (XLF) fell 1.2%. 

House leaders pulled the unpopular health care bill ahead of a vote late Friday afternoon after Republicans failed to secure enough votes for passage. While Ryan has promised the fight to repeal and replace Obamacare is ongoing, changes in the near term look unlikely. In a press conference on Friday, the speaker said Obamacare remains the law of the land and Americans will live with it for "the foreseeable future."

Crude oil prices and the U.S. dollar were under pressure on Monday morning. West Texas Intermediate crude was down 1.6% to $47.19 a barrel. The U.S. dollar declined 0.75% against the euro, 0.9% against the Japanese yen, and 1% against the British pound. 

Snap (SNAP) climbed 2% on Monday morning following a series of analyst moves. RBC Capital initiated coverage at overweight with a $31 price target. JPMorgan rated the disappearing message app at neutral with a $24 a share target. Goldman Sachs and Jefferies both have the stock rated as a buy. Snap was given a series of sell ratings when it made its market debut at the beginning of the month. 

Sealed Air (SEE)  fell after agreeing to sell its Diversey Care division and its food hygiene and cleaning units to Bain Capital. The deal, worth around $3.2 billion, is expected to close in the second half of the year. Sealed Air also authorized an extra $1.5 billion to be added to its share repurchase program. 

G-III Apparel (GIII) shares slumped 13% following a disappointing fourth quarter. The apparel company reported a loss of 42 cents a share, down from profit of 17 cents in the year-ago quarter. An adjusted loss of 16 cents a share was wider than consensus of 10 cents. For its current fiscal year, G-III anticipates earnings no higher than 90 cents a share, well below estimates of $1.34. CEO Morris Goldfarb said the retail environment had "become increasingly disrupted as a result of evolving consumer buying behavior and continued penetration of e-commerce."

Weatherford International (WFT) rose 7% on Monday on news it had entered into a joint venture with Schlumberger (SLB) to service the fracking industry in the U.S. and Canada. Schlumberger will own 70% of the OneStim venture. Wells Fargo upgraded Weatherford to outperform from market perform. 

Schlumberger is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells SLB? Learn more now.

Allergan ( AGN) and Paratek Pharmaceuticals ( PRTK) were on watch after reporting positive results for a drug treatment targeting acne. The drugmakers said two Phase 3 trials of sarecycline had shown "meaningful clinical benefits for patients afflicted with acne." Allergan will file for U.S. Food and Drug Administration approval in the second half of the year. 

Allergan is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AGN? Learn more now.

Starbucks ( SBUX) was initiated with an outperform rating and $66 price target at Telsey Advisory. The firm said the coffee chain can continue to deliver solid growth and return excess cash to investors.

Starbucks is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells SBUX? Learn more now.

Best Buy (BBY)  added more than 2% after analysts at Piper Jaffray upgraded the stock to overweight from sector weight and upped its price target to $55 from $45. Analysts said they see the potential for higher comparable store sales growth.  

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