The Royal Gazette/BSX Index plunged by more than ten per cent yesterday.

The biggest loser of the day was Bank of Butterfield, whose shares fell 30 cents, wiping $143 million off its market capitalisation.

The bank’s big move came on very low volume, with a total of 3,200 Butterfield shares changing hands, as the share price fell 15.8 per cent to $1.60.

Shares in insurance firm BF&M also dropped, down 15 cents (0.9 per cent) to $17.25 after 300 shares moved.

Bermuda Aviation Services was up five cents (1.6 per cent) to $3.16 after 300 shares traded.

Utilities firm Ascendant Group saw 1,000 shares move, finishing up five cents (one per cent) at $5.10.

A total of 27,200 shares in communications firm KeyTech also changed hands, leaving its price unchanged at $2.75.

The Royal Gazette/BSX Index closed 134.8 points down at 1,170.84, a fall of 10.32 per cent.

The BSX Insurance Index ended the day at 1,597.5, up 0.29 points (0.02 per cent).