President Biden knows how to worry people. He spoke lately about the necessity of getting all US diplomats out of Ukraine because of the fear of a russian invasion. In that case, defending US diplomats or US citizens against Russia could cause a third world war.
I don't see how such a war could happen given the fact that Russia simply isn't strong enough against NATO. How could anybody think that Russia could win a war against USA, Canada, Germany, France and UK plus all other smaller countries? That would be a blood bath of course, but russians probably use planes from the first world war and bows and arrows. These guys have a very large army, but they have the GDP of Spain. Napoleon kicked their ass, Hitler kicked their ass. They can only rely on General Winter when things get bad.
So far, the market doesn't seem too worried about a potential invasion of Ukraine by Russia. It could happen, but it looks like everybody knows that there would be too much too lose on any side for a declaration of war.
However, a third world war would probably be the only thing that would give a meaning of our unsignificant lives spent on a couch, with a phone on our hands. Every year, we're close and closer to the state of primats that we once were.
Nothing like a great war and hundreds of nuclear bombs to wake up all these sleepy people that we are.