Fiat stocks down more than 16 pc in Milan

Shares in Fiat Chrysler Automobiles were suspended on the Milan Stock Exchange today after plunging more than 16 per cent on reports that it will be investigated for using emissions-cheating software in some of its models in the United States.

According to several media reports, the United States Environmental Protection Agency is preparing to accuse Fiat Chrysler of using software that allowed excess diesel emissions in about 100,000 vehicles.