Granted, Doctor Strange is leaning heavily on magic rather than cosmic forces, but maybe the Time Stone is where those two areas intersect.
This kicked off speculation that the Eye may actually be the Time Stone, one of the two remaining Infinity Stones yet to be introduced (Soul being the other).
Even if the Eye itself isn’t the Stone, maybe it houses the Stone within, similar to how Loki’s staff contained the Mind Stone.
The Doctor Strange trailers have shown several examples of reality fracturing or being twisted to Inception levels, but time manipulation will also play a role in the story thanks to the good Doctor’s special amulet.