Shore. We made landfall and continue to move north at a rapid rate. North northeast at 15 miles an hour. So moving quickly. A reminder. Were seeing the pictures inside the eye. Its a very dangerous thing. This thing is moving so fast, 15 miles an hour. As it moves north, you may have some calm inside the eye but its dangerous. Youll have the back edge of the winds. We often see that to be incredibly dangerous. Be careful. Really just best to stay in a safe place in the shelter. So with time, lets look and see where well get the center moving. When you have a landfall this strong, 155 miles an hour hurricane, its going to take time to reduce the winds once we made landfall. We still expect to have strong winds, Hurricane Force, moving in to georgia. So into the evening hours, central georgia, take the rain that we showed and look at the winds on top of it. Could get trees down, Power Outages into georgia. Look at this wind field. Tropical Storm Force Winds extending out 175 miles. A strong system. So without a doubt, we have some time to go with this. We still need to be careful. Flow around this system like this. Youll still have on shore flow on some of the beaches and the panhandle. The water will be slow to come down. Some places more water on the way. Think about how large this system is. We have Tropical Storm warnings on the atlantic portion of this storm from georgia and into the carolinas with some of this onshore. What are the hazards . The rainfall, a dangerous situation with the rainfall. When you have the tropical systems a lot of moisture around the center and in the rain bands. So 610 inches of rain potentially. Were moving, the downpours are incredible. With time youll see 4 to 6 inches in some of the other areas that will cause a problem with the wind and the rain. That is where we can see some trees down, getting into georgia. Storm surge is something that weve talked about for days. High values potentially. You really look at this. Its an area that is incredibly vulnerable to the storm surge. Thats why weve been hitting it hard. Half the fatalities is storm surge. With time, youll see the water levels still coming up. Were not done with it yet. Weve been talking about this. Not just a coastal issue. Weve seen the water, the Barrier Islands and pushing the the wind keeps pushing the water inland with time, this is the apalachicola river. Northerly we drain the water out. In a situation like this, were seeing the river reverse, pushing the storm surge in. Weve been talking about not just coastal but well inland. To illustrate that, if youre living inland on these rivers, this is the coastline. Look at the apalachicola river inland. The water level sharply coming up. Thats miles and miles inland. Thats something that weve been covering. Its still not safe to be outside. A situation where the water levels can stay up. Hurricane force through the evening. Its best just to stay shelter, this is the latest from hurricane michael, ken graham at the National Hurricane center. Shepard ken, thanks. Lets got Panama City Beach. Jeff flock is there. How is it . This is our first look, shep, at the beach. Trying to make our way next to the hotel. Its an air b b. Look at that guy. Hes waving. She just went away. Shes waving up there. Look at that. Somebody survived it. Well see how the beach survived. Come on, kyle. Shepard the signal will be in and out. Were saying with this. We havent seen this yet. Lets go. The surf is not as bad as we thought it would be. Obviously still surging some as we speak here. Look, this could have been worse. You said earlier, 18 look at that. The railing just its not catastrophic damage but that is the pool railing there. Obviously collapsed. Im looking down. See what other kind of damage i see. I dont see anything terrible, i really dont. Im looking this way. You know, obviously storm fence knocked down. That sort of thing. I do not see any catastrophic damage, shep. We do obviously still see the scene of the gulf. But i tell you, this could have been over there. Okay. Were up to our ears in surf here. No, this could have been a lot worse. Thats your headline. Certainly could have been worse. Shepard you could have been 20 miles west. Your winds ought to be coming from right to left now as you look at the beach from west to east, right . You called that two hours ago. Youre absolutely right. That is now now its passed us, occasionally you still get a good gust here and there. When that happens, you do get, you know, the whole sand blast routine. Youre right. Now theyre coming this way. Thats an indication the storm is passed us. Youve seen the radar. You know it better than i do. I dont think the back end has a lot to it. That would suit me just fine. Shepard i think youre right about that. Youll get more wind and rain. Stay safe, jeff. Lets go east in panama city, close to panama city proper now. Rick leventhal is there. How is it look something. Its better than it was, shep. Were still getting buffeted by high winds. I had my wind meter out. Clocked a gust at over 50 miles an hour. The cover came off and i went to pick it up and it took off. That is gone. The way stuff flies around out here in the wind. We do see a utility pole that came down and a couple trees. What is remarkable to me, how many trees are still standing. Look at the forest beyond me. Most of the trees are still up. Obviously thats great. We do see some sign damage, minor damage here and there. Well get a better look at it when the worst of this is over ander with getting pounded a bit here, shep. You know, the visibility has improved and the wind speeds have come down. The rain is still hitting us hard. Shepard so many people have been out in a boat when all of a sudden it starts raining and you floor it, you go as fast as you can toward the docks and usually that is 40, 45, 50 miles an hour if you have a fancy boat. Double that, what does that rain feel like at 100 miles an hour . It hurts. It stings your face. Hurts bad. Im trying not to get hit by it right now. Ive had enough for the day. You know, its been pretty rough out here. You know, this is what authorities were worried about, getting hit this hard in this particular location that hasnt seen winds this strong or the one thing that i cant tell you about, jeff flock was worried about a storm surge. Must of Panama City Beach is at a 10 foot elevation. I dont see a lot of flooding here. Were a couple miles from the gulf coast. If theres a surge, it hasnt reached where were located. Shepard show people why that is. On camera four. There you go. Heres why that is. Heres the storm, right . Heres panama city. The storm is here. Where is the storm . Its come here. Heres where Panama City Beach is, over here. This is the circulation, right . So everything over here is getting 140, 150 miles an hour winds. Pushing enormous waves in apalachicola and port st. Joe. Huge storm surge. On the back side, the winds are like this. So here on Panama City Beach, the winds have come this way as the storm reached shore. You dont get a storm surge. You get bodied of water emptied out. The grand lagoon got emptied out into by shell island. Got emptied in the gulf of mexico. You have the same really strong wind pushing it. Now the storm has moved inland, the flow is counterclockwise and all around this center, now the winds are coming out of the west. Look at Panama City Beach. Its an eastwest beach. The water is coming along. No great storm surge. When this is over, the people of bay county at least along Panama City Beach will be able to look back and say not that the meteorologists missed it, the 155 maximum category four storm, strongest thing youve seen in the United States in a long time and the worst storm ever to hit this part of the world, ever in recorded history. It didnt hit the big population area. It hid over here. It made a jog of 15 miles. That is the difference in that on the map. It could have just as easily hit Panama City Beach. In Panama City Beach, i bet you they got on their knees and said their prayers last night. If theyre otherwise inclined, they got extremely lucky. This storm missed destroying their lives by that much on a map. By wiping out the Tourism Industry and the center of the economic engine for the entirety of bay county. It missed it by that much. Instead, hit Tyndall Air Force base. I know they had largely evacuated there. I spent a lot of time at tyndall over the years covering stories back during local television. Its a lot of concrete block buildings and they can handle this sort of stuff. The u. S. Military will get you organized and get you out. The rafters are out of there and they had a skeleton staff there and wore all hoping and praying theyre just fine. Well know soon enough. Look at the eye of this storm. Its getting wobbly now. The huge rain band is heading to steel city, chippley. This is part of the panama city viewing area. Its about to rain cats and dogs for you guys. Youll have Hurricane Force winds coming up. We must take a commercial break. I have to show you the dow first. The industrial average is in pointswise, this is an enormous day. Were off 2. 3 with 45 minutes, a little more left in the trading day. Weve been around this area hovering here. The nasdaq down even more. Last check, the nasdaq was about 200 points, which amounts to about 2. What is it now . Down 2. 3 . Oh, my gosh. Its like herding cats here today, ladies and gentlemen. Down 2. 9 , the nasdaq is. These are big single day drops after a few drops. Its all about yields on treasuries. When they go up, that puts downward pressure on stocks. Today is not the day to look at your 401 k . Today is the day to be thankful that most of the florida coast along the panhandle from destin to panama city was spared this storm. Because it moved east. Thank the good lord. The news continues after this. George woke up in pain. But he has plans today. Hey dad. So he took aleve. If hed taken tylenol, hed be stopping for more pills right now. Only aleve has the strength to stop tough pain for up to 12 hours with just one pill. Aleve. All day strong. They wont hike your ratest foover one mistake. See, Liberty Mutual doesnt hold grudges. For drivers with accident forgiveness Liberty Mutual wont raise their rates because of their first accident. Liberty. Liberty. Liberty. Liberty shepard new video has just come in from the big bend area east of apalachicola. Lenark villages, which is along the coast. Kelsie has this new video. Yeah, this is from a Volunteer Fire Department about 45 minutes east of where this made landfall, east of mexico city. They posted about five or six videos, this is the most recent one. Shepard east of mexico beach here. Thats what i meant. As they zoom out, you can see that someone is looks like theyre filming this from the safety of a car. The side door there. Somebody that is not out in the storm but still dangerous conditions. A couple more that they posted as well. Standard construction. Everything on stilts. Sometimes garages underneath, like washing machines and stuff. But that first area has to be breakaway and it is. Water under the houses. The windshield wipers going back and forth. Somebody trying to stay covered. Its a bad one. Shepard yeah, it is a bad one. This is far east of the center of circulation. Way far east of thats about to get picked up. We havent seen pictures from where the worst of this was right there at Tyndall Air Force base. We will eventually. The east side of bay county, the east side of panama city proper. Another one here . You can see the construction, the coastal construction. This goes back really to opal and prior to that. Opal back in 95. That changed the setback lines and changed how high you have to build your homes on stilts. So you put the home on stilts and use the underneath for storage or parking a car. The reason you do it, the water will go underneath the home and maybe leave it standing. Looks like here thats what happened. Looks like it. Shepard kelsie, thank you. I want to get to adam klotz. Here our one of our meteorologists in the extreme weather center. Adam, still moving ashore. Yes, a massive storm. Youve been showing videos and pictures hundreds of miles away from each other. You dont have to be near the eye to be feeling the effects. Theres rain falling in tampa, now close to atlanta. So a massive storm all associated with this. The eye wall remember, when the eye came on shore, winds of 155 miles an hour. Were getting close to the state line, alabama, georgia. Winds still at 150 miles an hour. Were an hour drive north is where the storm would be if youre in a car. Were still talking about a category four storm. Its powerful and not weakening a lot because its on land. Heres some of the recent wind gusts. Even as we move off the shore, still seeing winds at times up in the mid 60s. We had a recent one there in apalachicola. That was just completely taken down. That typically happens when you get winds closer to triple digits. You lose the sensors because the winds are so strong. Not surprised that happened in apalachicola. Even though the center continues to move a little farther north because of that big broad rotation, theres still time for storm surge to pile up, especially in the big bend area. Were looking at the forecasted areas that could see if theyre not already 10 to 12 feet of storm surge. That is where the storm surge will be the greatest, from apalachicola stretching to the big bend. Its on the eastern side because of the way the wind moves. Still circling around the storm. That could force the water up what will be happening next and ill leave you with this, shep, you asked about the storm being strong at a category four. Were going to be running into georgia as a category two hurricane. This will likely be a hurricane through the overnight hours. Not becoming a Tropical Storm until maybe early today morning. Its so big, its so powerful, its going to run through georgia and run into the carolinas. Its going to be a hurricane here probably the next 12 hours, at least Something Like that. Shepard wow, adam. Its on its way north now about to run into interstate 10, probably hit i10 around marianna in just about an hour, 1 1 2 hours. These are live pictures from Rosemary Beach. So many of you have a connection to 30 a. If you have a home or a getaway or like the beach, if youre from the southeastern United States and you go to 30 a area, this is it. This is Rosemary Beach. Along here, we have seaside and sea grove and sea grove place. You get to Rosemary Beach. Lets watch. You can see an awning. Its blocking the street. Were going theres a turn around here. Were going to turn around. Try to pull in to show you that. Get a better idea what that was. Theres power lines down here. You can see briefly there. Heres the damage that i was talking about. Not sure what this was. It was something that was an awning of some sort. I dont want to move the camera much. Once we stop back up a little bit. Looks like another awning over gas pumps almost. As adam gets situated there, just looking at the streets, you can see the wind picking up because the rain is being pushed along on the roads there. Hes getting closer to where michael made landfall. The conditions will pick up shepard thats local coverage from fox 10 wala for the mobile and pensacola area. Also fort walton beach. They moved to this vacation area. If you were to have gone to a place called Rosemary Beach 30 years ago, youd see nothing. Right along 30 a theres older houses and some salty families that had vacation getaways. Nothing like it is now. County road 30 a is a place where people from atlanta and nashville and memphis area found a little getaway slice of paradise where things arent too expensive and theres bigger plots of land. Some of the most beautiful beaches you have ever seen anywhere on this earth. I have traveled, i will tell you. It doesnt get much more beautiful than this. Allies beach, seacrest, sea grove beach. Those of you familiar know what im talking about. Inland beach. Sure, theres some awnings down. Keep in mind that this was a place that they thought might get hit. Instead, it was largely missed. Walas reporter is on scene and giving a live report for us. I want to listen in as he begins as he beginning right now. Its amazing how dramatically it changes here. Last time we spoke, we were in the thick of some of the worst wind and rain weve seen all day. Now some of it has died down. Take a look at the mass cam. You can see what looks to be the edge of the storm. We can see it out over the water. Its making its way and looks like destin, florida, looks like for now they have lucked out. Whether this is the edge or whether were in the middle of one of those bands. Take a look at the pictures from further down the road, Panama City Beach. The picture there much different. You can see the effects of the strong winds. Theres a reason that they warn people about the winds. What its doing to the surf and the trees and the amount of water that is whipping up. The rain that is coming down. The flags up on the flagpoles. Its just so strong, theres a reason why they warn people when these winds get up to the gusts get up to 150 miles an hour. This storm is continuing to move inland. Its going to continue to move over the panhandle and start to make its way northeast as well. Theres still a long path ahead. Besides the wind, the storm surge, which could reach 13, 14 feet, lowlying areas, lots of low construction, single story houses. Those are the most susceptible to the catastrophic damage. We have a long way to go. For things looking better here in destin. Shepard yeah, destin, thanks again to wala. I want to show you this spot. The map has switched over. I did have is it still there . No, it isnt. At any rate, hes in destin. My map has disappeared for the moment. Its on the far western edge of the area that was in trouble because of this storm or potentially. They are just beginning to see the first light of day. Sun is about to come out in destin, florida. The worst is over. Lost all control at the moment. Lets get to the big radar loop that weve been showing all day and see the movement of this storm from the satellite view. From weather 10, i guess it is. Theres a local radar. Here now mine is back working again. I want to show you where destin is. Of course, it wont do it. Mr. Machine, could you please make the weather thing work . No. Answer is no. But here we go. Lets look over here. This storm is going to continue up. Nothing funny about it. Man, worst Case Scenario is 155 miles an hour storm. The strongest storm since hurricane camille to hit america. I was 5 years old. Im so old, very close to death many will be happy to know. Very close to the end of life. I was only 5 when this thing hit. My dad was only 40 then. You know it was a long time ago. When hurricane camille hit, nobody thought this is the strongest one since then. Its headed here to georgia. Were about to cross over i10. Somewhere around marianna, florida. Marianna is just north of i10. Its going to cross somewhere around marianna. The eye wall is breaking up a little bit. As it does after it gets over dry land, of course. But its still Hurricane Force winds. So marianna, its on the way. I10 will be closed down in that area because the winds are way too high. If you have a big rig, you contestant get a little ford focus on the road there. Its too strong and will continue north and east. This is tomorrow. This category two when it gets to georgia tonight at 8 00, still a category two by the time it reaches georgia. About 4 1 2 hours from now. So a very powerful storm. The most powerful weve seen in most of your lifetime. The forward march is on. We expect this to track north and east generally speaking. You can see where it is by thursday at 8 00. Its down to a Tropical Storm force wind by then. They rain themselves out and continue to spin in the counterclockwise direction. The central pressure rises because the energy, the fuel is at extremely warm gulf water. Think where this formed. It forms between cancun and key cuba, right . Just right off of the coast of where the military facility is down there in cuba. That is about where it formed. It was just a little tropical depression. The waters were so warm. There were no upper level currents. Nothing to get in its way, only energy. Perfect situations. No High Pressure to mess with it, no low pressure. Just started spinning and churning. As it progressed northward and through the gulf of mexico, the water was very hot. 85 degrees. Thats hot for the 7th, 8th of october, even for the gulf of mexico. Its cooled down now but not as much as normal. As it got closer to shore, the waters got hotter and shallower and the storms gained strength. Rather than the storm we saw two days at, it came ashore at 155 miles an hour. Right over Tyndall Air Force base. I want to show you over here on this map where this thing is going. We have the report live from destin just a short time ago. Heres the center of circulation. Moves inland from panama city. Over here is destin. Destin and the Emerald Coast parkway. Destin is seeing blue skies now for the first time. When this storm was down here, this is about where it developed. Somewhere in this area. It was here. Right over here. When this thing developed in the gulf of mexico, there was no way to know exactly where it was going to go. They knew a general area. But destin was certainly in it. So was Panama City Beach. Had this storm jogged a little bit to the left, it would have been one whale of a thing. Lets go in to the center of circulation now. You can see where were headed, this is i10 here as it goes across florida. This is the main east west route. Heres the city of marianna. The center of circulation is beginning to break apart. The eye of the storm is not as well formed. See the red . That is drenching, soaking rain that is coming to alliance and round lake, making its way up to steele city. Heres the three towns that i talked about. Chipley and marianna and bona fe. The eye of the storm will cross between marianna and ch chatahoochee. Where does that take us . Up to macon, georgia. Its raining in birmingham, moving in this general direction. The storm is with us at least for the next couple days. Weve reached the bottom of the hour. A lot of news today. Well get you to the hot spots and show you the damages. Were trying to find out exactly what happened on the east side of panama city itself. The east side of panama city has been a concern all day. We know that the center of circulation when over the Eastern Suburbs of panama city, specifically callaway and parker. These areas right here. They got the western part of the eye wall. Very concerned about that. Waiting for pictures out of there. Otherwise, as a storm of historic size, historic winds has come ashore, it came at a place where it could have found a worse place. The dow is off 570 points on the session. The nasdaq down 2. 5 . Well get updates from the fox business network, check in with some of the political news today and keep you updated on the storm. This is fox news channel, americas choice for news and information on cable. This place isnt for me. That last place was pretty nice. I dont like this whole thing. Dad, what happened . Wheres rosie . I let her go. Wow you going to help me finish this thing or what . I think we can do better. Change is hard, dad. Try to keep an open mind. Come on, dad. This is for me, son . So, you going to help me finish this thing or what . Principal. We can help you plan for that. Shepard 25 minutes before 3 00. Along the Florida Panhandle where the storm, michael, continues to churn north northeast moving at 15 miles an hour and fast approaching interstate 10 somewhere around marianna, florida. Theres destruction though in specific areas, but some flooding in Power Outages across a wide swath. Lets go to apalachicola where extreme flooding was a concern off of the gulf of mexico about 60 miles from the center of circulation. Phil, how is it looking . Its the calm after the fury. The winds are far milder than they have been all day. This is like a regular rainy day here any time of the year. This is just wonderful. Its just a break after so many hours of being pummeled ferociously by hurricane michael, this is water street. Its actually receding already. You can see the fence,cast iron fence over there. Chain link fence, i mean. It is gone down about 2, 2 1 2 feet. You couldnt see that fence most of the day when we did the live shots. You can see the rooftops here. They amazingly didnt rip off entirely and fly into the area. The street is flooded. Its going down. You can see more steps leading up to the hotel. Come take a look at the apalachicola river which was furious at the beginning of our covera coverage. Being pushed by the gulf of mexico north upstream. Its very, very calm. Visibility is great. You can see almost all the way across the bay. In fact, looking southbound towards the gulf for the first time today, we can see the big bridge that takes you eastbound over the bay to east point and then eventually you can make your way back up to tallahassee. That route is closed. You cannot drive on the bridge. Theres no eastbound departing of apalachicola and no westbound departing of apalachicola. But at least the fury of the rain and wind has stopped. A. J. Smith, the county sheriff, he told us this morning or this afternoon this was absolutely the worst he has ever seen. Very dramatic day. Now that the bulk of the system is really moving north into georgia and the carolinas, people kind of getting a bit of a reprieve over here in apalachicola. Everybody is still supposed to stay inside. We did see some guy off in the distance down water street wadding. He was about waist to chest deep. Not sure what he was doing. Checking on a business. Who knows what. Now that the winds have subsided, the currents not so bad. Technically could wade through it. But youre still not advisable. Still life threatening. Emergency and sheriff authorities dont want anybody out there. They want everybody to stay in their house till tomorrow morning. Mandatory curfew in effect as well as up and down the panhandle. Big ben, sunset to sunrise. All of the sheriff departments and police departments, fema and the state really want to get after here is get some water levels dropping and then get out on their atvs and high profile vehicles and their boats. A lot of shallow boats activated by the Governors Office and get around, see what is what. See how many trees are down, how many power lines are down. Power is down much of the region. Ill tell you that. Shep . Shepard phil keating. Our eyes and ears from apalach. Now we go to adam klotz. This is the Alabama State line, Georgia State line behind me. You can see the circulation with this storm. Now if you were off to the western side of it, the winds are coming from the north. What that means for water, flooding, were pushing the water away from the land. Thats good new. Panama city and Panama City Beach this evening, high tide around 8 40. Even though the water levels are coming, the winds are pushing this away. High tide, low tides are different around the country, around the world. Its not bad here. Low tide a foot lower than high tide. Still the area of concern if you talk about where is this water going to pile up, where can the wind grab it . Its on the eastern side of the storm. Theres the center of circulation. Even though its so far north and where the worst winds are, you can stretch back to the east. It will be grabbing this water and continuing to pile it up in the big bend. So thats where we can continue to see some storm surge being an issue here going forward. All of the water brought with it, but its not going to allow it to retreat. Our forecast of anywhere from 10 to 12 feet of storm surge along these areas, that continues to be an issue. Its not going to be allowed to retreat until eventually that wind moves off and we get better of a chance, this could still be a concern for portions of apalachicola as well. A little farther to the west. This was a prediction, a forecast model that said as much as 8 to 9 feet of water being pushed up on the land, shep. That potential is still there if youre on the correct side of the storm for the wind to grab it. Shepard adam klotz, thank you. Breaking news now on wall street. What a dive the dow is taking this afternoon. The Dow Jones Industrial average now off close to 750 points on the session. Down 2. 8 . Its worse on the nasdaq. Down 268 or 3. 5 . The s p 500 down 2. 8 . All of the averages are still going down. The reason . Treasury yields putting enormous pressure on stocks. Well get to the Fox Business Networks susan lee to talk about your money and this effect on all of our portfolios. That is coming up from the fox news deck on this wednesday afternoon. Ive always looked forward to whats next. And im still going for my best even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. So if theres a better treatment than warfarin, im up for that. Eliquis. Eliquis is proven to reduce stroke risk better than warfarin. Plus has significantly less major bleeding than warfarin. Eliquis is fdaapproved and has both. So whats next . Seeing these guys. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. While taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Eliquis, the number one cardiologistprescribed blood thinner. Ask your doctor if eliquis is whats next for you. Shepard you are looking live highway 98 eastbound heading towards Panama City Beach. Our station fox 10 wala from pensacola, mobile and fort walton now driving along Panama City Beach. You can see the street lights are out. Alex in the vehicle giving us a play by play. Lets listen. Its not helping the situation. Before the rain was at our back and helping us along, moving us through the rain and the wind, moving quicker. Now its headed straight at us. Its a lot louder and more difficult to drive headed this way because youre getting buffeted by the strong winds and the rain. These are the strongest winds weve seen all day, even compared to destin and the storm is two hours past landfall, were still getting strong winds through here. Its not helping any of the situation. A lot of downed stre ee eed trf power lines down. We had some intersection that had lights still. The rest of the area is without power. Its interesting to see what the rain and wind lets up what the damage is. If things are not damaged now, im sure they will be. You have everything loose, all the debris falling down and everything picked up and thrown around by the winds. Its a serious situation. Were going to keep giving you updates as were able to with the connection being down out here and very spotty. Well try our best to do that. For right now, this is the scene out here. Parts of 98 look all right. Other parts dont look good at all. Well give you those updates and show you the images as we find them. Reporting from Panama City Beach, adam olivier, fox 10 news. Shepard this is going down to the miracle mile. So hoping this place wouldnt be wiped off the map, this monster storm has hit them by a fleas hair. Lets get to mike thomas. Hes the mayor of p. C. Beach. Mr. Mayor, how are you feel something. Doing great. Riding alopping, looking at damage. We got mighty lucky. Shepard didnt you get lucky. Can you imagine if this storm moved 20 miles west what your beach would have looked like . We would have been in trouble but thats why they call at this time miracle strip. I thank the good lord for it. Saved a lot of damage on the hotels. We have really been lucky. We got a mess, but it wont be one we cant clean up. Shepard you look along front beach road. That is right along the beach. You can throw a rock if youre good at it from front beach road to the gulf of mexico. Along front beach from what ive seen, things look good. What have you seen . It does. Everything looks good. Ive been pretty much up and down it this afternoon. I dont see a lot of damage. Couple things, signs fell on a building and, you know, a lot of power lines down. Some areas we caught a very, very good stroke of luck this afternoon. Shepard you really did. I wonder about the older homes from back in the 60s and 70s that are down not only stilts but on the ground. Did they fare okay too . Im looking at a building of mine, an old doughnut shop that we built in 71, my daddy and i, out of scrap. A little bit of damage on a master. Other than that, nothing. This is the third real bad hurricane that its been there. Im not sure that those old ones didnt do good. Im in an Old Neighborhood here. A lot of old beach houses here that look better than the new ones ive seen. Shepard my dad will say what you do, son. They dont build them like they used to. I know because every time the storm comes along the new ones are gone and the old terrible ones are still standing. Worth visualizing. We were afraid. The National Hurricane center was afraid this time yesterday that Panama City Beach was going to get mowed under and it didnt happen. Cant wait to get to the miracle mile to see it again soon. Mr. Mayor, thank you. A business alert happening now on fox news channel. The breaking news is from the dow, the nasdaq and the s p 500. Theyre all in the toilet today led by big tech and huge pressure from treasuries. Susan, what happened . Okay. We were down worse than this. Down 750 at one point. Yeah. Hovering close to 800 points down. Theres concerns that Rising Interest Rates with the tenyear yield, a lot of consumer loans like mortgages are based off of that. So if Interest Rates go higher, does that crimp the consumer . A lot of Big Companies in this country have gorged on cheap debt for the past ten years. If Interest Rates go up, they have to pay out more. Do they invest back into the United States, so they hire more workers. Do they spend more into the u. S. Economy. A lot of people are saying, look, this is like the biggest single day decline since april. Weve been in a 9 1 2 year bull market run. Thats a long time. Shepard sure. The numbers aside, the concern is about inflation. Whether the cost of everything for everyday people because of the trade wars and other things, if the cost of everything goes up, they have less money to spend and the company can trash. And you have to raise Interest Rates if youre the Federal Reserve. Bull markets have been historical trends where the Federal Reserve rates going up have actually cancelled out and killed bull market runs. But inflation, by the way, is also a good thing. When prices are going up, the economy is doing well. People are finding jobs and able to spend. Shepard not too much inflation, please. Not too much. Can i leave you with one thought . Shepard real quick. U. S. Exceptionalism. Youre going to lose money in europe, asia. Thats how ill describe your hurricane coverage. Shepard so happy. Sorry it hit Tyndall Air Force base by missed the population centers. Susan li, lots of coverage there as the market day is behinding up the dial on your cable. We wrap up hurricane coverage. Glad to have you in from the fox news deck. If youre a veteran homeowner and need money for your family, call newday usa. A newday va home loan lets you refinance your home and take out 54,000 dollars or more to pay credit card debt, or just put money in the bank. It even lowers your payments by over 600 dollars a month. As a veteran, youve earned the powerful va home loan benefit that lets you refinance up to 100 percent of your homes value. 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Ailed we called usaa. And they greeted me as they always do. Sergeant baker, how are you . They took care of everything a to z. Having insurance is something everyone needs, but having usaa now thats a privilege. Shepard continuing coverage of hurricane michael. The western side of eye wall hit in eastern panama still. Callaway and parker are two towns on the east side of panama city. We were waiting to see what happened there. Weve got pictures. Kelsie is here. We have pictures out of callaway. This is callaway. This is posted on instagram. This house was severely hit. Looks like more wind damage than anything. Shepard shouldnt be water there. This is inland. The western side yeah. A lot of trees down. Yeah. Shepard you would have thought roofs might have come off, too. Thats a messed up roof. Shepard heres the thing about the eye wall. Moving forward at 14, 15 miles an hour. They only got the western side. Its not like it sat there for a while beating them. Trampoline, lawn mowers. Shepard some roofs. The inside of a house or garage. Shepard yeah. Serious damage. Callaway and parker. This is the dow. Were having a bad finish to the day. Three minutes to the final bell. It cannot ring quickly enough. The dow jones off 800 points. More than 3 on the session. You know how the dow is. Uncertainty freaks them out. Today theres enormous pressure because of tech stock yields. Theres no idea when this volatility will end. The dow is off 3 . The nasdaq off 4 . The s p off 3 on the session. This is not the end of a bull market. But this is certainly an important day not to look at your 401 k . Just make the decision, dont look at it. Maybe tomorrow will be a better day. Im Shepard Smith in new york. Your world with neil cavuto begins now. In two minutes. This business action. Well have two more minutes i think what youll hear by the end of the day, this information about the selloff. Theyre plunging towards the worth loss in six months. Tech companies took to take sharp losses. You can see the dow is down or was down 800 points. Widespread losses as bond yields are high after steep increases last week. Companies that have the biggest winders on the market in the last few years Like Technology companies, retailers, those big winners are the ones that are suffering the big losses today. The s p 500 index is way off. About 3 . Its on track for the fifth straight drop, which hasnt happened since before the 2016 election, if you can believe it. The dow has given up more than 800 points on the eggs is. The russell 200 index, its off 2. 5 as well what are the Big Companies that are losers . Microsoft is one of them. It dropped 4 on the day. Amazon skidding some 5 on the day. Industrial and Internet Companies are getting hit hard. Boeing lost 4 . Alphabet, which is googles parent, gave up more than 3 on the day. So its been a widespread and massive selloff. I was about to tell you, i think all of the dow 30 components are in the bread today. Many companies, Many Companies suffering sharp losses. Now at long last, mercifully, the final bell tolls on wall street. Theyre clapping because thats what they do. Nobody except short sellers are happy about this. Your world with neil cavuto starts right now. Neil all right. Fox on top of two storms. Barrelling through and hitting investors in the panhandle, hitting average folks that probably werent concerned about the right end of your screen. Im neil cavuto. Its been an awful day weatherwise in the gulf and an awful day at the corner of wall and broad. Were on top of each development. The situation with the hurricane and its a doozy, michael at a category four, flooding and wind and a good deal of damage but could have been worse. I wish i could s