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There's been some speculation that the past week's stock market decline has been caused, at least in part, by worries over a government shutdown (which ultimately lasted about eight hours).

Bottom line: There is no compelling historical evidence that the markets react positively or negatively to government shutdowns. During the 18 government shutdowns since 1976 that included trading days, the markets went lower for nine and higher for nine — with an average S&P 500 change of just 0.5%.

Expand chart
Data: Yahoo Finance, Congressional Research Service; Note: 1987 shutdown did not include a market day. Chart: Andrew Witherspoon / Axios

Go deeper

Neera Tanden withdraws nomination for Office of Management and Budget director

Neera Tanden testifying before the Senate Budget Committee in Washington, D.C., in February 2021. Photo: Anna Moneymaker/The New York Times/Bloomberg via Getty Images

Neera Tanden withdrew her name from nomination to lead the Office of Management and Budget, President Biden announced Tuesday.

Why it matters: Tanden’s nomination was already in peril after several senators voiced opposition and concern about her qualifications and past combative tweets.

What's ahead for the newest female CEOs

Jane Fraser (L) and Rosalind Brewer. Photos: Jason Redmond/AFP via Getty Images; Rodrigo Capote/Bloomberg via Getty Images.

The number of women at the helm of America’s biggest companies pales in comparison to men, but is newly growing — and their tasks are huge.

What's going on: Jane Fraser took over at Citigroup this week, the first woman to ever lead a major U.S. bank. Rosalind Brewer will take the reins at Walgreens in the coming weeks (March 15) — a company that's been run by white men for more than a century.

2 hours ago - Health

Biden says U.S. will have enough vaccines for 300 million adults by end of May

President Biden. Photo: Anna Moneymaker-Pool/Getty Images

President Biden on Tuesday said that ramped-up coronavirus vaccine production will provide enough doses for 300 million Americans by the end May.

Why it matters: That's two months sooner than Biden's previous promise of enough vaccines for all American adults by the end of July.