Stocks

Greece is moving closer to defaulting on its debt and could be forced to abandon the euro currency.

The Dow Jones industrial average dropped 350 points, or 2 percent, to 17,596 Monday.

The Standard & Poor's 500 index sank 43 points, or 2.1 percent, to 2,057.

The Nasdaq composite tumbled 122 points, or 2.4 percent, to 4,958.

European markets fell even more. Stocks fell 3.6 percent in Germany and 3.7 percent in France.

Bond prices rose sharply as investors sought safety. The yield on the 10-year Treasury note fell to 2.32 percent.

The Dow Jones industrial average fell 138 points, or 0.8 percent, to 17,804 as of 9:35 a.m. Eastern time Monday.

The Standard & Poor's 500 index gave up 16 points, or 0.8 percent, to 2,085.

The Nasdaq composite fell 47 points, or 0.9 percent, to 5,033.

The declines were steeper in Europe. Benchmark indexes were down 2 percent in Germany and 3 percent in France.

Nine of the 10 industry sectors in the S&P 500 index fell. The only one that rose was utilities, a traditional safe-haven play.

Chinese stocks plunged 7 percent as fears spread that a yearlong bull rally there has become overheated. The market is up more than 100 percent over the past year.

KEEPING SCORE: The Dow Jones industrial average rose 59 points, or 0.3 percent, to 17,948 as of 9:50 a.m. Eastern. The Standard & Poor's 500 index rose two points, or 0.1 percent, to 2,104 and the Nasdaq composite fell five points, or 0.1 percent, to 5,107.

The government reported early Thursday that spending surged in May by the biggest amount in six years. That's a sign of stronger economic growth ahead.

The Dow Jones industrial average rose 32 points, or 0.2 percent, to 17,996 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index rose two points, or 0.1 percent, to 2,110.

The Nasdaq composite gained eight points, or 0.2 percent, to 5,129.

IAC/InteractiveCorp rose 4 percent after the company said it would spin off Match.com and Tinder, two dating sites, into a separate company.

The Dow Jones industrial average rose 24.29 points, or 0.1 percent, to 18,144.07. The Standard & Poor's 500 index added 1.35 points, or 0.1 percent, to 2,124.20 and the Nasdaq composite rose 6.12 points, or 0.1 percent, to 5,160.09.

Prepaid debit card company Green Dot was among the biggest gainers. Its stock soared 40 percent after the company announced it had renewed its partnership with Wal-Mart for another five years. Netflix climbed in after-hours trading following the company's announcement that its board had approved a plan to split its stock.