Indian tech stocks slump after Trump imposes $100,000 application fee for H-1B visas

President Donald Trump

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• Indian tech stocks fell Monday after the White House imposed a $100,000 H-1B visa application fee.
• The NIFTY IT index slid nearly 3% as stocks such as Mphasis fell almost 5%.
• Jefferies analysts called the visa fee a "curveball" for the Indian IT sector.

Indian technology stocks slumped on Monday after the Trump administration announced a new $100,000 application fee for the H-1B visa program for skilled workers.