Tesla and EV battery stocks slide with new wildcards in the mix
monsitj

Shares of Tesla (NASDAQ:TSLA) fell 6.05% in early trading on Wednesday and carried a number of electric vehicle stocks lower with it as sentiment in the stock shifted negative again following a strong rally in the sector on Tuesday.
Tesla (TSLA) is now down about 12% over the last week after the Q3 deliveries report and confirmation of Elon Musk buying Twitter rattled investors.
A new wildcard in the EV sector has also emerged. On Tuesday, the Biden administration declared that batteries from China may be tainted by child labor. Of note, the Department of Labor said it would add lithium-ion batteries to a list of goods made with materials known to be produced with child or forced labor under a 2006 human trafficking law. Much of the cobalt used in electric batteries is mined in the Democratic Republic of Congo, where children have been found to work at some mining sites.
Decliners on Wednesday included ChargePoint Holdings (CHPT) -7.75%, Volta Industries (VLTA) -9.05%, Blink Charging (BLNK) -9.96%, XPeng (XPEV) -9.89%, and Faraday Future Intelligent (FFIE) -8.13%.