Stock indexes tumbled more than 2 percent on Friday after the resignation of a European Central Bank executive board member and skepticism over President Barack Obama's economic stimulus spending plan.

The Dow Jones industrial average <.DJI> dropped 291.83 points, or 2.58 percent, to 11,003.98. The Standard & Poor's 500 Index <.SPX> dropped 29.20 points, or 2.46 percent, to 1,156.70. The Nasdaq Composite Index <.IXIC> dropped 54.51 points, or 2.16 percent, to 2,474.63.