Monday's market action amounted to a fairly benign volley in a series of shots Wall Street is sending to Washington: Get your act together, or else.
Republicans failed last week to push a much-vaunted health-care plan through Congress, sending a signal that President Donald Trump's ambitious economic agenda could be in peril. The thinking went that Trump failed his first test despite having a solid majority in both chambers on Capitol Hill.
Until the past two weeks or so, investors brimming with optimism about the new administration have been fairly patient about the pace of change. They pushed the S&P 500 up as much as 10 percent after the November election, but the rally has cooled lately and major averages edged mostly lower Monday.
The index has fallen 2.4 percent since the early-March top and faces a sharper pullback on further hiccups in the legislative process.