The Bermuda Stock Exchange Index declined 25.06 or 2.12 percent. Some 81,811 shares moved at a value of 559,397.84.

In the banking sector, Bank of NT Butterfield Preference Shares closed at 1,200 with 30 trading, up 18.00. Bank of NT Butterfield Ltd also saw movement with 30,785 moving at an unchanged 1.49. A total of 10,000 Somers Limited shares moved at 12.00, down 0.40.

The insurance sector saw Argus Group Holdings Ltd and BF&M Ltd move, with 10,800 shares in Argus changing hands, at 4.00 down 0.69, and 15,700 shares in BF&M moving at 16.80, down 0.20.

Polaris Holding Co Ltd saw 5,000 shares trade at 3.05, down 1.20. In the utilities sector, Ascendant Group Ltd traded at 10.01, down 0.24. Some 3,526 of the shares moved. KeyTech Ltd also moved, and were down 0.45 at 5.35 with 6,000 shares changing hands.