Why Fiat (FIATY) Stock Is Falling This Afternoon

NEW YORK (TheStreet) -- Shares of FIAT S.p.A.  (FIATY) are down -1.98% to $9.88 after it was reported that the National Highway Traffic Safety Administration opened an investigation into an estimated 260,000 model year 2005 Dodge Ram 1500 pickup trucks of Fiat Chrysler Automobiles because a loose fastener may cause the rear axle to lock up or detach, Reuters reports.

Earlier, CEO Sergio Marchionne said a meeting of Fiat Chrysler shareholders to vote on the merger between the Italian carmaker and its U.S. unit is expected to be held at the beginning of August. 

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FIATY Chart

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