In the wake of Tucker Carlson's abrupt exit from Fox News, class A shares for the network's parent company Fox Corporation slid 4.7 percent on Monday, The Wall Street Journal reported.
Fox's "A and class B shares were among the worst performers in the S&P 500 on Monday," the report stated.
Matthew Tuttle, the CEO and CIO of Tuttle Capital Management, told Bloomberg that Carlson’s exit is “definitely going to leave a mark on Fox.”
Carlson was the best-known personality on Fox's presenting roster, hosting a popular prime-time evening show that drew a fiercely loyal audience among right-wing viewers.
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A key figure in Republican politics, he often interviewed Donald Trump and has been widely criticized for his abrasive style, alleged lack of journalistic rigor and -- to his critics -- his stream of disinformation and racist and hate-filled rhetoric.
"Fox News Media and Tucker Carlson have agreed to part ways. We thank him for his service to the network as a host and prior to that as a contributor," the network said in a statement.
The 53-year-old Carlson, who joined the network in 2009, gave no immediate reaction to the statement.
With additional reporting by AFP