IT services firm stocks dip after government suspends fast tech visas

IT services firm stocks dip after government suspends fast tech visasBy Noel Randewich SAN FRANCISCO (Reuters) – Technology services company shares dipped on Monday after the Trump administration announced it would temporarily suspend expedited applications for H-1B visas widely used by foreign tech workers. U.S. shares of Indian IT company Infosys Ltd fell 1.2 percent and Wipro Ltd edged down 0.2 percent after the U.S. Citizenship and Immigration Services (USCIS) said on Friday that it would suspend “premium processing” of the visas for up to six months. Following President Donald Trump’s election in November, Infosys and Wipro sold off due to concerns he would keep promises to crack down on immigrants who he said were taking jobs from U.S. citizens.



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