Auto Stocks Stall: EU Emissions Scandal Gathers Pace

Author:: TheStreet Staff
Publish date:: May 18, 2017 8:33 AM EDT

Fiat Chrysler (FCAU) - Get Report stock drove a pile up in the European auto sector Thursday as investors reacted to speculation of an imminent lawsuit from the Justice Department if the Italian-American automaker fail to agree to an emissions-related settlement.

The sector was found swimming deeply in the red during early European trading, with the Stoxx 600 Europe Automobiles & Parts index falling 1.47%.

Fiat Chrysler stock slumped more than 6%, marking its biggest fall since January 12 when reports of a possible probe first emerged, taking losses in the last week alone to more than 15%.

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This article was written by a staff member of TheStreet.