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Markets largely expect that the Fed has stopped raising rates and will start cutting in 2024.

Munger was instrumental in directing Buffett into buying strong-brand quality companies and staying away from dirt-cheap names that he called "cigar butts."

Growing geopolitical tensions — fueled by wars in Ukraine and Israel — have raised concerns that China could move to annex Taiwan.

The journey to Munger and Buffett's unparalleled success was full of learning, experience and laughter, but never an argument.

Central banks having hiked interest rates at breakneck speed and those rates are set to stay higher for longer while the lagged effects set in.

The move would end one of the highest-profile partnerships between giants in the tech and banking sectors.

Charlie Munger was a shrewd investment genius in his own right, passing on rich investing wisdom for generations of investors to learn from.

Munger told Buffett, "he should write his obituary the way he wants it written, and then live his life accordingly," CNBC's Becky Quick said.

"It was an amazing occurrence," said Munger.

These are the stocks posting the largest moves in extended trading.

The investing community lost one of its pillars Tuesday with the death of Charlie Munger, according to Ariel Investments' Charles Bobrinskoy.

"We think so much alike that it's spooky," Warren Buffett once said of Munger.