The Royal Gazette/Bermuda Stock Exchange Index lost 3.7 percent of its value yesterday, driven down by trading in Bank of Bermuda stock.

The market closed down 99.74 points, at 2,586.08.

The bank's shares traded $3 lower on the BSX, at $41 on volume of 500 shares, following a $1.05 decline on the Nasdaq, where the shares finished at $39.30.

The Bank of Butterfield lost a quarter point, closing at $33.25. Key Tech, the parent of the Bermuda Telephone Company Ltd., was the only other issue to trade, but was unchanged at $41.75.