The Royal Gazette/Bermuda Stock Exchange index continued its downward spiral yesterday, dipping a further 35 points after Bank of Bermuda shares continued to lose ground.

The bank's shares, which have a 52 week high of $55.25, slipped another 50 cents to close at $48. Bank of Butterfield also lost $1 or three percent, closing at $32.00. No other shares changed price.

The index closed at 2,544.36, down 1.36 percent or 35.15 points on a volume of 23,660 shares worth $748,220.