For the better part of 2012, the growing violence in Syria has avoided investors' long list of headaches.

After all, the civil unrest has largely been contained to within the borders of Syria, a country that has little economic influence and no real footprint in the critical oil industry.

But the escalation of violence in Syria this week adds to an already-volatile situation in the region, heightening the threat of a wider conflict that could ultimately impact global markets.

"I think the Syria situation is contained in the short term, but investors should be alert to the fact there are definitely wild cards in the deck," said Jim Rickards, a partner at New York-based hedge fund JAC Capital Advisors. "Investors should understand this is a very complicated chess board."

With much bigger issues on their plate, global equity markets have been largely unfazed by the situation in Syria, focusing instead on reading the tea leaves at the Federal Reserve and keeping a wary eye on Europe.