Stocks tumbled Friday as fear swept world markets that financial trouble in the Middle Eastern city-state of Dubai will upend a global economic recovery.

Major stock indexes fell about 2 percent from 13-month highs, including the Dow Jones industrial average, which at times slid more than 200 points in a shortened trading day.

Trading volume had been expected to be light after the Thanksgiving holiday. Light volume can trigger big swings in markets. Stock markets close three hours early, at 1 p.m. EST. Bond markets close at 2 p.m.