Reuters: High Price to Pay in US and Global Markets

Anna Szymanski's "Morning Bid" newsletter from Reuters highlights a cautious atmosphere prevailing in U.S. and global markets. Contributing to this sentiment is the recent announcement of a new $100,000 fee for initial H-1B visa applications. This policy change, initiated by President Trump, is perceived as a potential setback for the U.S. technology sector, which heavily relies on skilled foreign workers. The policy announcement immediately impacted Indian equities, given India's significant share (over 70%) of approved H-1B visas in the previous year. Subsequent clarification from the White House indicated the fee is a one-time charge and does not affect current visa holders. Beyond the visa policy development, market participants are keenly awaiting the U.S. Federal Reserve's upcoming actions. Investors are focused on Friday's release of the Personal Consumption Expenditures (PCE) index, the Fed's preferred measure of inflation. Furthermore, scheduled appearances by several Fed officials, including New York Fed President John Williams, are expected to provide insights into the future trajectory of monetary policy.