Greece edges closer to bankruptcy and euro zone exit, markets collapse

The markets plummeted with the Dow collapsing 350 points to 17,596 as Greece edged closer to bankruptcy. Nasdaq sank 122 points to 4,958.

On the upside

Bargain hunters lifted shares of China Digital TV (NYSE: STV).

Shares of coal producer Cloud Peak Energy (NYSE: CLD) rose on the Supreme Court's ruling that the Environmental Protection Agency must consider costs when imposing new air pollution regulation.

On the downside

Shares of Real Goods Solar (Nasdaq: RGSE) extended its losses.

Puerto Rico's announcement that it may not be able to make debt payments weighed down share of Puerto Rican financial services provider OFG Bancorp (NYSE: OFG).

Mad Money's Jim Cramer said on Friday that Micron Technology (Nasdaq: MU) would continue falling due to price competition.

TheStreet expects Bank of America (NYSE: BAC) stock to drop.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The broader S&P 500 plummeted 43 points to 2057. Bitcoin gained $7 to $254.