Offensive Stalls Outside Sanaa

The most likely near-term outcome is that the Presidential Leadership Council-aligned forces and Saudi-backed units face stiff Houthi defenses before entering central Sanaa. The Houthis have held the capital since 2014 and retain entrenched command networks, missiles, drones, and tribal leverage around the northern approaches.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.