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Market Digest: Global Equities Stagnate as Indian Tech Stocks React to Visa Policy Shift
Market Digest: Global Equities Stagnate as Indian Tech Stocks React to Visa Policy Shift
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BTCCSquare news:
Global markets hovered in neutral territory as early-week trading failed to sustain last week's momentum. Dow futures dipped 51 points (0.11%) while S&P 500 and Nasdaq 100 futures retreated 0.13% and 0.15% respectively. The pause follows a strong Friday close that saw the Nasdaq surge 2.2% and the Russell 2000 notch its seventh consecutive weekly gain.
Indian tech stocks bore the brunt of new US immigration policies, with the Nifty IT sub-index sliding after President TRUMP instituted a $100,000 fee for H-1B visas. Mphasis led decliners with a 4% drop as the sector—which relies heavily on US work permits—faces renewed cost pressures. The Fed's 25 basis point rate cut last week provided no counterbalance to the bearish sentiment.
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