Three waves of pre-dawn strikes on military targets in Iran on Saturday completed Israel’s retaliation on Iran, the Israel Defense Forces said, in what U.S. officials and others hoped would be the last shot in a hostile exchange between the two regional powers that has had the world on edge for weeks, fearing a dangerous expansion of the war.

The IDF said it hit aerial defense systems and missile manufacturing facilities in Iran, avoiding nuclear and oil facilities in what appeared to be a…