{"id":72814,"date":"2026-10-10T03:38:18","date_gmt":"2026-10-10T07:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-brace-for-impact-hurricane-isaias-hits-gulf-coast-while-apple-slashes-iphone-production\/72814\/"},"modified":"2026-10-10T03:38:18","modified_gmt":"2026-10-10T07:38:18","slug":"global-markets-brace-for-impact-hurricane-isaias-hits-gulf-coast-while-apple-slashes-iphone-production","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-brace-for-impact-hurricane-isaias-hits-gulf-coast-while-apple-slashes-iphone-production\/72814\/","title":{"rendered":"Global Markets Brace for Impact: Hurricane Isaias Hits Gulf Coast While Apple Slashes iPhone Production"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) has reportedly slashed iPhone 18 Pro component orders by 15-20%<\/strong> due to soaring memory chip costs and weaker-than-expected consumer demand.<\/li>\n<li><strong>Hurricane Isaias made landfall near Destin, Florida, as a Category 2 storm<\/strong> with 105 mph winds, leaving over 697,000 customers without power across the Southeast.<\/li>\n<li><strong>Ukrainian drones struck the NZNP Rostovsky oil terminal in Russia<\/strong>, igniting a major blaze just hours after the U.S. reportedly eased certain fuel export sanctions.<\/li>\n<li><strong>Bitwise is liquidating its Dogecoin ETF (BWOW)<\/strong> after the fund failed to attract significant capital, holding less than $1 million in assets since its 2025 launch.<\/li>\n<li><strong>Egypt&#39;s annual urban inflation slowed to 13.9% in September<\/strong>, marking a seven-month low as the impact of previous fuel price hikes began to fade.<\/li>\n<\/ul>\n<h2>Tech and Finance: Apple Retreats, Crypto ETF Folds<\/h2>\n<p>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) is scaling back production for its flagship <strong>iPhone 18 Pro and Pro Max<\/strong> models as rising DRAM and memory chip costs force retail prices higher. Reports indicate the company has cut component orders by <strong>at least 15%<\/strong> this month, with some suppliers seeing reductions of up to <strong>20%<\/strong>. The price hikes, which saw the Pro models start at <strong>$1,199 and $1,299<\/strong>, have reportedly cooled buyer interest, particularly as Apple opted for a split launch strategy that delayed the standard iPhone 18 model until 2027.<\/p>\n<p>In the digital asset space, Bitwise CEO Hunter Horsley labeled the impending closure of the <strong>Bitwise Dogecoin ETF (<a href=\"\/stock\/BWOW\">BWOW<\/a>)<\/strong> as &quot;tragic.&quot; The fund, which launched in late 2025, struggled with low liquidity and held only <strong>$687,713 in assets<\/strong> as of early September. Trading on the <a href=\"https:\/\/stockmarketwatch.com\/exchanges\/nyse\/today\" data-internallinksmanager029f6b8e52c=\"2\" title=\"NYSE Today\">NYSE<\/a> Arca is scheduled to end on <strong>October 14, 2026<\/strong>, with final liquidations to shareholders expected by October 22.<\/p>\n<h2>Energy and Geopolitics: Drone Strikes and Regional Tensions<\/h2>\n<p>The global energy market faced fresh volatility as <strong>Ukrainian kamikaze drones<\/strong> targeted the <strong>NZNP Rostovsky oil products export terminal<\/strong> in Rostov-on-Don. The facility, which handles up to <strong>3.5 million metric tons<\/strong> of fuel annually, was set ablaze in a precision strike. This escalation occurred shortly after reports surfaced that the U.S. Treasury had issued licenses to permit certain <strong>Russian-origin diesel fuel imports<\/strong> through April 2027 to stabilize global supply.<\/p>\n<p>Concurrently, tensions in the Middle East intensified following a <strong>Houthi ballistic missile and drone attack<\/strong> on Riyadh\u2019s <strong>King Khalid International Airport<\/strong>. The strike killed three Saudi citizens and damaged a Saudi Arabian Airlines aircraft, drawing strong condemnation from Egypt and the United Nations. Reports also suggest that <strong>Russia is providing missiles and intelligence<\/strong> to Iran to assist in targeting U.S. military bases across the region, further complicating the geopolitical landscape.<\/p>\n<h2>Macroeconomic Outlook: Hurricane Damage and Inflation Cooling<\/h2>\n<p><strong>Hurricane Isaias<\/strong> has become the first major test for regional infrastructure in 2026, crashing into the <strong>U.S. Gulf Coast<\/strong> on Friday night. While the storm weakened to a Category 1 shortly after landfall, it brought life-threatening storm surges of up to <strong>9 feet<\/strong> and drenching rains. States of emergency remain in effect for <strong>Florida, Alabama, and Georgia<\/strong> as utility crews work to restore power to hundreds of thousands of residents.<\/p>\n<p>On the economic front, <strong>Egypt&#39;s annual urban consumer price inflation<\/strong> provided a rare bright spot, falling to <strong>13.9% in September<\/strong> from 14.5% in August. This deceleration was driven by easing food and transport costs, providing some relief to the region&#39;s largest economy. Meanwhile, in the U.S., Vice President <strong>JD Vance<\/strong> addressed the upcoming December execution of Fort Hood shooter <strong>Nidal Malik Hasan<\/strong>, questioning the Pentagon&#39;s potential plan to livestream the event while stating he would personally decline to watch.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Apple (AAPL) has reportedly slashed iPhone 18 Pro component orders by 15-20% due to soaring memory chip costs 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