European car makers drop after Renault fraud investigation
LONDON Jan 14 (Reuters) - Shares in European carmakers touched their lowest levels since October after a union official said Renault's offices were searched last week regarding a fraud investigation possibly linked to emissions.
Shares in Renault were down 20 percent, recording its worst day since Nov. 17, 1994 and wiping some 5 billion euros from its market capitalisation.
Other carmakers came under pressure, with Fiat Chrysler down 10 percent after being briefly suspended, and Peugeot down 8.10 percent.
In all, the STOXX 600 Autos and Parts Index was down 5.9 percent, having touched its lowest levels since October. (Reporting by Alistair Smout; Editing by Sudip Kar-Gupta)
© Thomson Reuters 2016 All rights reserved.