Iran and U.S. exchange fire in Strait of Hormuz

The U.S. and Iran exchanged fire in the Strait of Hormuz on Thursday, a U.S. official confirmed to Axios.Iranian state media reported that three U.S. destroyers were targeted by the Iranian navy, while the U.S. official said the U.S. conducted strikes on targets in the strait.The big picture: The U.S. official said the exchange did not constitute a resumption of the war, but the Iranian military described the U.S. strikes as a ceasefire violation and threatened retaliation. The extent of the str...