Shares of Renault SA slumped 20% in Paris on Thursday after a report said the French car maker’s offices were raided in what may be a fraud probe into emission tests. AFP said French anti-fraud detectives have raided several production sites and seized personal computers, indicating authorities in the country are starting an investigation into whether Renault rigged emission tests. The actions come after Volkswagen last year admitted to cheating on environmental tests on some of the its diesel cars, prompting a recall of 11 million cars.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.