Shares of U.S. technology companies slipped Monday after President Donald Trump unveiled steep new visa fees as part of his immigration crackdown, raising concerns over higher labor costs and tighter access to skilled workers.

The Trump administration said Friday it would ask companies to pay $100,000 per year for H-1B working visas, prompting some big tech companies and banks to warn employees to stay in the U.S. or quickly return.

Analysts said the impact should be moderate, given that the fees apply only to new applications, but warned that a constrained supply of skilled workers in the U.S. may push wages higher and squeeze margins.

Companies including Microsoft, Amazon, Alphabet and Goldman Sachs were among those that sent urgent emails to their employees with travel advisories.

Shares of Cognizant Technology Solutions, JP Morgan and Intel, which rank among the biggest sponsors of H-1B visas, were down between 1.2% and 1.6% in premarket trading.

"The H1B fee will constrain talent supply in the U.S., which in turn will drive up demand for locals or green card holders. IT firms will have to pay these employees more or risk losing them," Jefferies analysts said in a note.

"The talent supply crunch will drive up onsite wages, which could drag profits by 4-13%."

Indian IT workers make up the bulk of H-1B applicants, and while Indian IT companies have long benefited from U.S. work visa programs, they now face the prospect of higher costs and slower revenue growth.

Indian IT stocks slid on Monday, with the tech sub-index dropping nearly 3% and dragging the broader Nifty 50 index down.

"We believe this will essentially shut out new H-1B visas except in extreme cases for Indian IT companies, as USD100K increment is nearly double their median salaries and doesn't make economic sense," Ambit Capital analysts said.