US STOCKS-Wall St slides with Exxon, oil; Chipotle dips after close

martes 2 de febrero de 2016 18:24 GYT

* Alphabet surpasses Apple as most valuable U.S. company

* Exxon Mobil cuts capex after lowest quarterly profit in a decade

* Indexes down: Dow 1.8 pct, S&P 1.9 pct, Nasdaq 2.2 pct (Updates close with Chipotle, Yahoo down after the bell)

By Caroline Valetkevitch

Feb 2 (Reuters) - U.S. stocks dropped on Tuesday after another steep fall in oil prices and a disappointing spending forecast from Exxon Mobil.

Shares of Exxon fell 2.2 percent to $74.59 after the oil major reported its smallest quarterly profit in more than a decade, forecast a 25-percent drop in capital spending from 2015 levels and suspended share repurchases.

With Exxon, "not only did the earnings disappoint people, but the fact that they slashed capex so much and they (suspended) their share repurchase program. It's a good indication that one more large oil company is not seeing an improvement in the environment," said Michael O'Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut.

Data so far this earnings period shows the capital spending slump that originated in the hard-hit energy sector was spreading more widely across other U.S. industries.

Earlier Tuesday, BP Plc reported an annual loss of $6.5 billion, its largest ever.   Continuación...