Indian IT stocks slide amid US visa crackdown

(Reuters) -Indian information technology stocks fell 3.6% on Monday after U.S. President Donald Trump imposed a $100,000 fee on new H-1B visa applications, threatening the sector’s long-standing model of rotating skilled workers into the U.S.

The index was the top sectoral loser, dragging the benchmark Nifty 50 0.3% lower.

All 10 stocks on the index traded lower, with losses led by Tech Mahindra’s 5.8% slump.

(Reporting by Kashish Tandon in Bengaluru; Editing by Janane Venkatraman)