Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Cantonio with Leslie Picker here at Post 9 of the New York Stock Exchange.

Sarah Eisen's off today. Stock's getting hit as these geopolitical risks return. The president says the ceasefire with Iran is over and that the U.S. will, quote, hit him hard tonight.

But the CFR's President Emeritus Richard Haas is with us to say, quote, don't take his comments seriously. Plus, watching the

energy markets, oil on the rise once again today. We're joined by one energy and security

strategist who says crude markets have oversold based on excessive market optimism. Apple's domestic

push expanding its partnership with Broadcom and making its largest U.S. manufacturing

commitment to date.

Meantime markets, a little weakness here in the Dow, about 1.5% Home Depot, Sherwin Williams,

among the laggards, as the bond market is bringing us a little higher on the yield front,

4-6 on the 10-year.

We are seeing energy, at this moment,

at least, the only green sector in addition to consumer staple, so a bit of a defensive

crouch. As we await President Trump's news conference at the NATO summit, let's get to Megan

Kisela for the latest on the war with Iran. Megan. Leslie, tensions between the U.S.

and Iran absolutely reignited today with the president's

comments that the ceasefire between the two countries is over and that the U.S. will likely

be attacking Iran again tonight. The president is also casting doubt on the idea that a diplomatic

solution is even possible, saying he doesn't see it happening with the Iranians.

And in new comments, guys, just in the last half hour, the president is now backing off the idea that Iran needs to hand over its nuclear material.

Take a listen.

We've already got the nuclear material because it's so far underground.

Nobody's going to be able to get it except us because we have the equipment that you can get it.

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