US stocks dropped, reversing a 1.7 percent surge in the Standard & Poor’s 500 index, as Exxon Mobil drove energy companies lower and the government pushed Chrysler into bankruptcy.

Exxon fell 2.6 percent after the world’s largest company by market value posted the biggest profit drop since 2002.

The S&P 500 fell 0.1 percent to 872.81, giving the benchmark index for US stocks a 9.4 percent rally in April. That’s the steepest monthly advance since March 2000.

The Dow Jones industrial average slumped 17.61 points, or 0.2 percent, to 8,168.12.

Exxon fell $1.77 to $66.67. First-quarter profit of 92 cents a share trailed the average analyst estimate by 3.6 percent as the global recession sapped energy demand, pulling down oil and gasoline prices.

In light of the Chrysler bankruptcy, rivals General Motors and Ford rose 6.1 percent and 9.7 percent, respectively. American depositary receipts of Toyota, Japan’s biggest automaker, added 1.1 percent to $79.16.