The Bermuda Stock Exchange (BSX) plunged to its lowest level in nearly a decade yesterday, as Butterfield Bank shares fell more than nine percent.

The Royal Gazette / BSX Index fell 4.6 percent in yesterday's trading to close on 1,919.01 points — its lowest point since November 30, 2000, according to Bloomberg data.

Butterfield Bank fell 30 cents to close on $3, also its lowest trading level since 2000. As by far the most heavily weighted share on the BSX Index, Butterfield's fortunes have a major impact on the direction of the local market.

The Index fell 39.3 percent in 2009, on the back of a 30.4 percent fall in 2008.

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