U.S. stocks fell in Friday's abbreviated session as a possible debt default by a Dubai state-owned conglomerate fueled concern that the global financial system was not fully stabilized.

The Dow Jones industrial average <.DJI> dropped 154.48 points, or 1.48 percent, to end unofficially at 10,309.92. The Standard & Poor's 500 Index <.SPX> slid 19.14 points, or 1.72 percent, to finish unofficially at 1,091.49. The Nasdaq Composite Index <.IXIC> tumbled 37.61 points, or 1.73 percent, to close unofficially at 2,138.44.

Indexes finished off their worst levels after the U.S. dollar <.DXY> gave up earlier gains and global commodity prices regained ground. Major U.S. indexes had dropped 2 percent or more shortly after the open.

The U.S. stock market traded in an abbreviated session following the U.S. Thanksgiving Day holiday.

For the week, the Dow dipped 0.1 percent, the S&P 500 edged up 0.01 percent and the Nasdaq slipped 0.4 percent.

(Reporting by Ellis Mnyandu; Editing by Jan Paschal)

Dubai