Shares of Butterfield Bank and BF&M fell as The Royal Gazette/BSX Index tumbled 2.55 per cent.

Butterfield slid $1.50, or 3.2 per cent, to close on $46 on the Bermuda Stock Exchange on the trading of 5,433 shares. In New York, the bank’s US-listed shares also fell, slipping 48 cents, or 1 per cent, to close of $46.56.

BF&M dipped 25 cents, or 1.4 per cent, to close on $17.75, as 200 shares changed hands.

Argus Group Holdings was unchanged on $3.80 as 4,700 shares traded, while Ascendant Group was unchanged on $16 as 3,928 shares were exchanged.

The index fell 69.38 points to close on 2,648.42. The BSX Insurance Index fell 2.41 points, or 0.14 per cent, to close on 1,773.02.