Volkswagen shares are getting CRUSHED

Volkswagen shares are diving more than 13% in early trading on Monday.

Business Insider, investing.com

US regulators found software the carmaker designed for diesel cars gave false emissions data and the company faces fines of up to $18 billion, the Environmental Protection Agency said on Friday.

Volkswagen's CEO apologised on Sunday, saying he was "deeply sorry" for the violation of U.S. rules.

"I personally am deeply sorry that we have broken the trust of our customers and the public," Martin Winterkorn said in a statement.

Meanwhile, European markets are mixed at the start of the week. The FTSE 100 is up 0.40%, and the Euro Stoxx 50 is up 0.46%, while Germany's DAX index is down 0.20%.

Shares in RSA are getting hammered at the moment, down more than 20%, on news that Zurich walked away from its £5.5 billion ($8.5 billion) bid.

Here's what that looks like:

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