Silicon Valley executives are grappling with the White House’s sudden decision to impose a $100,000 fee on skilled foreign worker visas, previously costing $2,000 to $5,000. The confusion led to H-1B holders disembarking from a flight, while tech industry in India faces pressure due to the new fee.

The White House clarified that the $100,000 fee won’t apply to existing visas, advising foreign national employees to stay in the US or return immediately. H-1B visas are popular in tech, with Amazon as the top employer. New fee rules will cost companies billions to bring in skilled foreign workers.

India, where 71% of H-1B beneficiaries are from, faces immediate consequences from the new fee regime. Shares in Tata and Infosys fell after the announcement, impacting the broader Indian tech sector. The American Medical Association raised concerns about the impact on healthcare worker shortages and suggested exemptions for physicians.

The H-1B program is vital for hospitals to sponsor physicians and medical professionals. The confusion over the new fee has caused concern in the healthcare sector, with the White House indicating exemptions could be made for physicians in the national interest. India’s tech sector is also feeling the effects of the new fee.

Read more at Yahoo Finance: Silicon Valley Confusion Over H-1B Visa Spurs Tech Plunge in India