US, Iran clash in Hormuz as war escalates: What happened, why it matters

The United States and Iran have exchanged fire in the Strait of Hormuz, prompting fears that the already fragile ceasefire between the warring nations could collapse. The flare-up in fighting on Thursday came as Washington awaits a response from Tehran to its latest proposals for an agreement to end the war, which began with joint US-Israeli air strikes on Iran on February 28. …