US STOCKS-Wall St falls 2 pct as Exxon Mobil, oil weigh
* Alphabet surpasses Apple as most valuable U.S. company
* Yahoo, Chipotle to report after the close
* Indexes down: Dow 2 pct, S&P 2.1 pct, Nasdaq 2.5 pct (Updates to late afternoon)
By Caroline Valetkevitch
Feb 2 (Reuters) - U.S. stocks dropped more than 2 percent in late Tuesday trading after a disappointing forecast from Exxon Mobil and another steep drop in oil prices.
Shares of Exxon fell 2.3 percent to $74.54 after the oil major reported its smallest quarterly profit in more than a decade and forecast a 25-percent drop in capital spending from 2015 levels. Chevron, which reported a loss on Friday, fell 4.2 percent to $81.70.
Brent oil and U.S. crude fell as hopes faded for a deal between OPEC and Russia on output cuts.
"The fact that (Exxon) slashed capex so much is an indication that another oil company is not seeing any improvement" in the near term, said Michael O'Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut.
The capital spending slump that originated in the hard-hit energy sector appears to be spreading more widely across other U.S. industries. Continuación...