My 240 wont start. It turned over ok this morning and tried to fire but did not start. Battery went dead so I jumped it. Now it turns over but wont fire. We've had a hard rain all last night and today. I checked the #4 and #6 fuse. The #4 was broken so I replaced it. The #6 appears ok. I looked in my manual and it states that there is a fuse under the hood by the left wheel well that controls the engine. I can't find the fuse. Would this fuse be an issue for the car not starting? It ran fine all weekend.

Check your in-line 25Amp fuse. It's located on your driver's side fender firewall, usually either right up against the fender firewall or close to the ignition coil. $50 says that's your problem.

Better sit on that fifty. See Tony's post... that fuse went away by '90 or so; certainly not present on my '92. Now handled by other fuses in the main fuse block.

The 25 amp fuse was used up to around 1990 Your '92 wont have it.

This is the fuse holder that you read about. It's attached to the rail on the inner fender with the big Silver Relay.. real close to teh Power Sterring reservoir

http://www.brickboard.com/RWD/volvo/1399637/220/240/260/280/fix_fuse_now.html
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'75 Jeep CJ5 345Hp ChevyPwrd, two motorcycles, '85 Pickup: The '89 Volvo is the newest vehicle I own. it wasn't Volvos safety , it was Longevity that sold me http://home.lyse.net/brox/TonyPage4.html

I don't think 92s have a fuel injection fuse under the hood. My 93 does not have one. They moved it back to the main fuse panel sometime after 1989.

Ray S is right you need good quality ignition parts, wet weather no starts point right to this stuff. You might as well get a new Bosch cap and rotor, Bosch or Bougicord wires and Bosch or NGK Copper spark plugs.

Clean corrosion, tighten fuse holders and replace fuses 4 and 6, the 92 does not have the fuse you are looking for it is now #6.
Dan

May be the wet weather. I've had issues with that. Be sure you have top quality wires and cap (ie. bougicord or bosch). You pay top dollar for them but they will assure a start in wet weather when cheap stuff will let you down (ask me how I know).