Indian Tech Stocks Lose $10 Billion in Market Value on H-1B Hike

Indian information technology companies took a hit Monday on concern that the hefty increase in US visa fees will pressure earnings at the nation’s leading outsourcing firms.  Most Read from Bloomberg    The sector gauge dropped 3% in Mumbai, its worst day in over five months, erasing $10 billion in market value. Shares of Infosys Ltd., Tata Consultancy Services Ltd. and Tech Mahindra Ltd. were the biggest drags on the index.  President Donald Trump’s overhaul of the program, including a $100,000 fee fo ...