New Delhi, Sept. 22 -- IT stocks crashed on Monday after US President Donald Trump signed a proclamation that will raise the fee for H1-B visas to a whopping $100,000 annually, marking the latest move in his administration's push to crack down on immigration.

Nifty IT fell over 3.5 percent in intra-day deals on Monday, September 22 as against half a percent decline in benchmark Nifty.

President Donald Trump has signed an executive order raising the H-1B visa application fee from USD 1,000 to USD 100,000 per applicant - a 100x increase that applies to new applications. MOSL, in a recent note, stated that while the program's structure remains unchanged, the first significant impact will likely be seen in FY27 petitions, as FY26 applicatio...