Wall Street tumbles on oil woes

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

The Dow Jones industrial average <.DJI> fell 295.16 points, or 1.79 percent, to 16,154.02, the S&P 500 <.SPX> lost 36.33 points, or 1.87 percent, to 1,903.05 and the Nasdaq Composite <.IXIC> dropped 103.42 points, or 2.24 percent, to 4,516.95.

(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)