Brace for stocks to slide and a recession to strike if foreign wars drive up gas prices, hedge fund titan David Einhorn warns

• David Einhorn warned of a slump in stocks and potential recession in his third-quarter letter.
• Foreign conflicts could drive up gas prices, squeezing consumers and cooling the economy, he said.
• "It's a tricky time and we remain worried about the direction of the market," Einhorn said.

The conflicts raging in Ukraine and Gaza threaten to deal an indirect blow to American consumers, fueling an economic slump that pulls down stocks, David Einhorn says.