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IT Stocks Slump Following Trump Comments On Visa
Shares in IT companies fell after comments by Trump on visas.
Shares in IT Companies dropped sharply, after US President elect Donald Trump said that he would stop companies from abusing the visa process for foreign workers that placed a threat to Amercican jobs and abused the visa process.
Donald Trump has had mixed opinion over H1B Visas. In the past he has said that Amercica needed skilled workers, while he also has vowed to clamp-down
on the misuse of these visas.
Indian IT companies depend heavily on the H1B visas to help their clients and bulk of the revenues for IT companies come from the US.
GoodReturns.in
Story first published: Monday, December 12, 2016, 9:58 [IST]
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