Stock Market Crash: Big news has come from America – causing an earthquake in domestic and global markets.

News Topical, Digital Desk : According to a Wall Street Journal (WSJ) report, US senators have demanded answers from major companies like Amazon and Apple regarding their use of H-1B workers. The Senate Judiciary Committee has expressed concern that the increased reliance on foreign workers is impacting American jobs. The companies have been asked to submit data by October 10, which will include information on H-1B workers' salaries and potential displacement of American employees. Following this news, pressure increased on stock markets worldwide, including India. Shares of IT companies fell sharply.

The US's foreign-employed H-1B visa program is once again in the spotlight. According to a Wall Street Journal (WSJ) report, the US Senate Judiciary Committee has sent letters to several major companies, including Amazon and Apple, seeking answers regarding the hiring of H-1B workers and their impact on American workers.

Concerns have risen:  US lawmakers say that tech companies have recently implemented large-scale layoffs, yet they continue to hire H-1B workers. This raises questions about whether foreign workers are impacting job opportunities for American citizens. 

Data sought from companies:  The Judiciary Committee has asked companies to respond by October 10th. This information has been sought from them. Salary details paid to H-1B workers have also been requested. Records of previous hirings and layoffs, whether the hiring of H-1B workers has impacted the American workforce, and which companies are under surveillance. Answers to these questions have also been sought. According to reports, letters have been sent to Amazon, Apple, and other major tech companies. However, this move isn't limited to the tech sector; US lawmakers want all major companies to be transparent about their H-1B use. Impact on the Indian IT Sector: Indian professionals are the largest beneficiaries of the H-1B visa program, and this investigation could have a direct impact on India as well. Indian IT companies (such as TCS, Infosys, and Wipro) rely on American clients, and H-1B visas are a vital component of their operations. If pressure on American companies increases, it could impact the contracts and on-site workforce of Indian IT service providers. 

In the bigger picture, the H-1B visa has long been crucial to the American tech industry, filling the shortage of software and engineering talent. However, with increasing political pressure amid domestic unemployment and layoffs, this issue has once again become sensitive.

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