3. -- Fiat Chrysler (FCAU) shares tumbled in Milan as the heat from emissions probes on both sides of the Atlantic intensified.
Shares were down more than 6%, marking the biggest one-day fall for the stock since January and bringing total losses for the last seven days to 14.1%.
The slump follows reports that the U.S. Department of Justice is preparing a civil suit against the carmaker following a probe that was opened in January related to excess diesel emissions. Fiat Chrysler was accused by the U.S. Environmental Protection Agency of failing to disclose engine management software in its vehicles, including Jeep Cherokee and Dodge Ram trucks, which could result in an emissions output that was too high.
In a statement, Fiat Chrysler said that "in the case of any litigation, FCA US will defend itself vigorously, particularly against any claims that the company deliberately installed defeat devices to cheat U.S. emissions tests."
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