Markets Close Lower As Oil Spikes

The markets closed lower as oil prices briefly surged above the $80 mark before closing at a record $79.91 a barrel. The Dow dropped 17 points to 13,292 while Nasdaq slipped 5 points to 2592. S&P 500 added a fraction to 1472. The 30-year bond eased as the yield edged up to 4.687%.