Berkshire Hathaway stock fell sharply early Monday on news that CEO Warren Buffett will be stepping down at year-end after 60 years of leading the company. Berkshire’s Class A shares were down 4.4% to $773,

Berkshire will miss Buffett’s “clout,” said one analyst, as the company lost about $30 billion in market value following the Oracle of Omaha’s retirement announcement.

"You're losing one of the most esteemed investors one could argue of all time," a source said of investors' reaction to Buffett's plan to step down.