The present invention relates to a fuse assembly for rapid interruption of a prospective fault current. The fuse assembly includes a plurality of splitter plates. A plurality of foil elements extend between a pair of terminals and are physically supported by the splitter plates. A pair of parallel busbars are in series with the foil elements and generate a magnetic field that is substantially perpendicular to the current flowing in the foil elements. In the presence of a prospective fault current, the foil elements will melt and at arcing inception an electromagnetic force developed as a result of interaction between the magnetic field and the arc current will push the molten foil elements into the splitter plates. This increases the arc length and hence the arc voltage. At least the foil elements and the splitter plates are preferably located in flowing liquid dielectric such as MIDEL 7131, for example. The liquid dielectric flow may help to push the molten foil elements into the splitter plates and removes debris away from the arc site.