Stocks continued their downward spiral on The Royal Gazette/Bermuda Stock Exchange Index (BSX) yesterday, with the banking and utilities sector hardest hit.

Belco Holdings Ltd. saw its share value fall 50 cents (3.22 percent) to $15, with 500 shares traded.

Butterfield Bank also declined 10 cents (0.92 percent) to $10.75, as 847 shares changed hands.

BF&M Ltd. also transacted 290 shares, but its price remained unchanged.

Overall the Index slumped 26.61 points (0.77 percent) to 3,429.31, with 1,637 shares worth $21,394.95 traded.

The BSX Insurance Index, meanwhile, inched up 43.19 points (5.28 percent) to 859.68.