Stocks Hit On Dubai Fallout

U.S. stocks tumbled today as they play catch-up from yesterday as the world reacted to debt issues in Dubai, which is seeking a six-month moratorium on interest payments.

30-minutes into the trading day the Dow is down 180 points, the Nasdaq is down 43 and the S&P 500 is down 23.

While the Dubai news first surfaced on Wednesday, world markets didn't have a chance to digest the news until Thursday as the U.S. was celebrating the Thanksgiving holiday.

After selling off Thursday, European stocks re-gained their bearings on Friday but Asian stocks were hit hard. Hong Kong's Hang Seng closed down 4.8 percent while Japan's Nikkei fell 3.22 percent.

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