A spike in gas prices is one of the biggest risks to the stock market and economy

• One of the biggest risks to the stock market and economy is a gasoline price shock, according to Carson Group's Sonu Varghese.
• Gas prices are already up 23% year to date, and a further rise could reaccelerate inflation.
• Low US inventories of refined oil products could lead to elevated price volatility during hurricane season.

A potential gas price shock represents one of the biggest risks to the stock market and economy, according to Carson Group global macro strategist Sonu Varghese.