The Bank of Butterfield dropped $1.25 to $32.50 on The Royal Gazette/BSX Index.

The fall, equal to 3.7 per cent, came after 5,297 shares traded.

On the New York Stock Exchange, the bank shed seven cents, or 0.21 per cent, to $33.20.

Insurance firm Argus saw 36,800 of its shares trade in Bermuda, leaving its price down five cents, or 1.1 per cent, at $4.55.

The Royal Gazette/BSX Index closed down 55.22 points, or 2.71 per cent, at 1,980.12.

The BSX Insurance Index ended the day up 0.97 points, or 0.05 per cent, at 1,859.57.