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,

"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.

Berkshire Hathaway (BRK-A, BRK-B) stock fell as much as 5% on Monday before paring losses as the conglomerate's board said it had unanimously approved longtime CEO Warren Buffett's appointment of vice chair Greg Abel as his successor,