Wells Fargo Stock Slump Cost Berkshire Hathaway $2.4 Billion

Wells Fargo got smoked on Monday morning, after the Federal Reserve handed down its harshest penalty in years. It limited the bank's growth to its 2017 year-end assets of 1.95 trillion dollars. Warren Buffett's Berkshire Hathaway owns just under 10 percent of the company, and lost more than 2.4 billion dollars thanks to the stock slide. The billionaire initially dumped nine million shares in April 2017.