#tech-sector

#tech-sector

President Trump just made it a lot more expensive for companies to hire foreign workers through the H-1B program. The White House announced Friday that Trump signed a proclamation requiring employers to pay a hefty $100,000 fee for new H-1B visa applications, an enormous jump from the current $215 lottery registration fee. H-1B visas allow U.S. companies to hire foreign workers in fields that that typically require technical expertise like IT, engineering, mathematics, or medicine.

The unemployment rate for young people between 20 to 30 years old in the tech sector has increased by about 3% since the beginning of the year, according to Joseph Briggs, senior global economist of Goldman Sachs' research division.

Without the leadership of the red-hot U.S. tech sector, the S&P probably wouldn't be making new highs right about now, especially as the tariff deadline looms.

The Dow Jones rose 396 points, for a 1% gain, on Tuesday, as investors mostly rotated out of the tech sector, favoring the 30-company index.

"In the years since the pandemic, cross-border hiring has flourished due to persistent talent shortages, particularly in the tech sector, which has seen significant shifts."

It's important to diversify. Having your portfolio invested in one sector only can lead to serious losses if that sector crashes.