They already are, but FWIW: "Looking at the historical record, as shown in figure 3, equity markets have a fairly negative correlation with y-o-y changes in oil prices once price increases exceed 40%. That means that oil prices above USD $110 – the level that translates into a 40% y-o-y increase – will begin to weigh on equity markets. We are very close to this threshold, and Brent prices are actually right at this threshold…"
http://pragcap.com/when-will-oil-prices-hurt-equity-markets
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