The Royal Gazette/Bermuda Stock Exchange Index fell 115.262 points or 5.13 percent last week to close at 2,245.31. The most notable price change was in Bermuda Bakery Ltd. stock which surged 48.94 percent or $11.50 to close at $35 on volume of 3,000 shares.

The Banking sector was hit hard last week with the Bank of Bermuda falling $3 or 8.33 percent to close at $33 on volume of 3,977. The Bank of Butterfield fell $0.75 or 2.36 percent to close at $31 on volume of 21,519. In the Insurance sector, BF&M Ltd. fell $0.75 or 7.14 percent to close at $9.75 on volume of 4,100.

In the utilities sector, Belco Holdings Ltd. fell $1 or 3.33 percent to close at $29 on volume of 3,409.

KeyTech Ltd. gained $0.25 or 0.7 percent to close at $35.75 on volume of 338 shares.