Yemen president flees, Saudis attack Houthi rebels as nation moves toward collapse – Global markets crash

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Yemen president flees, Saudis attack Houthi rebels as nation moves toward collapse – Global markets crash

This article was posted on Mar 26, 2015 and is filed under Market News

SANAA, Yemen — President Abed Rabbo Mansour Hadi fled Yemen by sea Wednesday as Shiite rebels and their allies moved on his last refuge in the south, captured its airport and put a bounty on his head, officials said. Hours later, Saudi Arabia announced it had begun airstrikes against the Houthi rebels.

The departure of the close U.S. ally and the imminent fall of the southern port of Aden pushed Yemen further toward a violent collapse. It also threatened to turn the impoverished but strategic country into another proxy battle between the Middle East’s Sunni powers and Shiite-led Iran.

Saudi ambassador to the United States Adel al-Jubeir said his country had begun airstrikes against the rebels. He said his government had consulted closely with the U.S. and other allies but that the U.S. military was not involved in the operations.

The White House said in a statement late Wednesday that the U.S. was coordinating military and intelligence support with the Saudis but not taking part directly in the strikes.

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