Trump Orders $100,000 H-1B Fee; Indian IT Stocks Sink On U.S. Visa Crackdown

Indian IT shares fell after the White House ordered a $100,000 fee on new H-1B visa applications, prompting uncertainty across tech staffing pipelines. Nasscom said the U.S. clarified the fee applies only to new applications, easing initial confusion that saw some H-1B holders rush back to the U.S. The NIFTY IT index dropped about 2.6%, with Persistent Systems leading losses and major firms like TCS, Wipro, and Infosys down around 2%. Analysts warn the move could raise costs, disrupt rotations, and accelerate onshoring as legal challenges loom.