Add as a preferred source on GoogleMicrosoft Shares Slide as Trump Administration Freezes Green-Card Filings
Microsoft stock fell from about $531 to $525.06 before recovering to $525.64 as the action extended to other technology companies.
Microsoft shares fell on Oct. 8 after the Trump administration suspended the company’s access to employment-based green-card labor certifications, extending immigration restrictions across major technology employers.
The stock traded near $531 before sliding to $525.06 and later recovering to $525.64 during intraday trading. Broader technology shares also faced pressure.
The suspension covers Adobe, Cognizant, Infosys, Tata Consultancy Services, Wipro, HCL Technologies and Capgemini. Vice President JD Vance urged Microsoft to hire more American workers, while Labor Secretary Keith Sonderling said officials would stop accepting new permanent labor certification applications from the affected businesses.
The Trump administration cited alleged misuse of employment visa programs; it has not announced findings of wrongdoing against the companies.
The PERM process supports employment-based permanent residency applications and requires employers to show that hiring foreign workers would not disadvantage qualified American applicants. Existing H-1B visa holders are not directly barred from working under the action.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.