BUZZ-EV stocks skid as Tesla's quarterly deliveries fall for the first time in 4 years

Reuters04-03

** Electric vehicle stocks tumble as Tesla posts first quarterly fall in deliveries in nearly 4 years underscoring a slowdown in EV demand

** Tesla was on track to having $33 bln shaved off its market value on Tuesday after a 6% drop

** Rivian Automotive slides 4.9% after missing market estimates for quarterly production

** Canoo tumbled 33% to $2.61 after co forecasts 2024 revenue well below estimates and warned about its ability to continue as a going concern for the 8th straight quarter

** Other EV stocks also drop: Workhorse Group shed 5.7%, Mullen Automotive , Nikola , U.S.-listed shares of Nio fall between 2% and 5%

** EV charging and battery cos ChargePoint Holdings

, Blink Charging , QuantumScape , and Nuvve Holding Corp drop in the range of 3% and 5%, respectively

** Broadly, U.S. stocks dropped on growing concerns about the possibility of fewer interest rate cuts than expected by the Federal Reserve

(Reporting by Medha Singh)

((medha.singh@thomsonreuters.com))

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