NEW YORK, Nov 27 (Reuters) - U.S. stocks pared losses on Friday as the U.S. dollar gave up earlier gains and global commodity prices regained ground, tempering concerns about a possible debt default at a Dubai state-owned conglomerate.

* The Dow Jones industrial average dropped 113.59 points, or 1.09 percent, to 10,350.81. The Standard&Poor's 500 Index dropped 13.71 points, or 1.23 percent, to 1,096.92. The Nasdaq Composite Index dropped 24.34 points, or 1.12 percent, to 2,151.71.

* Earlier, major U.S. indexes dropped more than 2 percent.

* U.S. front-month crude was down 3.2 percent, easing from a slide of more than 5 percent. The U.S. stock markets are on a shortened session following the U.S. Thanksgiving Day holiday. They will close at 1 p.m. EST. (1800 GMT)

(Reporting by Ellis Mnyandu; editing by Jeffrey Benkoe)

((Ellis.Mnyandu@thomsonreuters.com; +1 646 223 6085; Reuters Messaging:ellis.mnyandu.reuters.com@reuters.net))

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