The Royal Gazette/BSX Index fell 6.6 per cent as three stocks fell and one advanced on the Bermuda Stock Exchange. The index closed 129.49 points down at 1,826.22.

Insurer BF&M Ltd was the one issuer to gain ground, adding $1.75, or 11.1 per cent, to close on $17.50 as 1,000 shares changed hands.

Butterfield Bank posted the largest fall, dipping $3.05, or 10.9 per cent, to close on $25, as 2,000 shares were traded.

The bank’s US-listed shares also dipped by a double-digit percentage, shedding $2.67, or 10.1 per cent, to close on $23.65 on the New York Stock Exchange, as 239,835 shares were traded.

One Communications Ltd slipped ten cents, or 2.6 per cent, to close on $3.80, as 1,238 shares changed hands.

Ascendant Group Ltd, parent company of Belco, also lost ground, falling 45 cents, or 1.5 per cent, to close on $30.55 as 500 shares traded.

The BSX Insurance Index tumbled 99.25 points, or 6.74 per cent, to close on 1,372.8.