Morning Recap, Stock Market taking a bath in Oil

With Crude Oil surging above $130 a barrel, the Dow Jones is down 80 points and the SPX and Nasdaq are both shedding points as we speak. Boeing is negative 3.7%, Lehman Brothers is currently in the red by more than 4%, which is the case with most of the Financials as well, with Citigroup and Morgan Stanley both down 2.6% and 2.7% respectively.
In the Bonds market and morning trading, The 10-year note is off 9/32, yielding 3.812%.
"The U.S. Dollar Index, which tracks the greenback's value against a basket of six major foreign denominations, was off 0.6%, or 0.41 point, at 72.03."
How far will the Crude record run go? When will credit related worries stop plaguing Wall Street? Can this be the formation of a new problem stirring in the markets? Again I will ask the question, which is $200 first, a barrel of light sweet crude oil or an Apple IPhone?
Official as of 12:00pm, an all time record high for oil has been touched, $132.08 a barrel.