The death toll from Hurricane Helene has reached 128 across six states as of Monday. The hurricane made landfall in Florida as a Category 4 storm, causing widespread destruction.

What Happened: The storm has left nearly two million customers without power and disrupted communication networks, making it difficult for families to contact loved ones, reported CNN.

North Carolina has been particularly hard hit, with 56 deaths, including 40 in Buncombe County, according to County Manager Avril Pinder.

Asheville Mayor Esther Manheimer described the scene as “post-apocalyptic,” with homes and buildings destroyed and power lines down. Emergency supplies are being flown in due to impassable roads and bridges.

North Carolina Governor Roy Cooper urged residents to avoid traveling to affected areas to allow emergency responders to do their work. President Joe Biden is expected to visit the hardest-hit areas later this week.

Survivors are struggling due to a lack of basic necessities such as food, water, and electricity. The Federal Emergency Management Agency and the National Guard are assisting with recovery efforts, but the situation remains dire.

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Why It Matters: Hurricane Helene has caused extensive damage across the Southeast, from Florida to the Carolinas. The estimated property damage ranges between $15 billion to $26 billion, with an additional $5 billion to $8 billion in lost economic output.

The hurricane has exposed the vulnerability of Florida's property insurance market, which has seen a staggering 45% increase in premiums from 2017 to 2022.

The storm has also disrupted key manufacturing hubs. Baxter International Inc. has shut down its largest manufacturing facility in North Carolina due to significant damage. This disruption is expected to negatively affect the company’s financial performance.

Furthermore, the hurricane has the potential to disrupt the $500 billion semiconductor industry. North Carolina’s Spruce Pine, known for its high-purity quartz essential for semiconductor manufacturing, has been severely impacted. This could lead to supply chain disruptions and potentially drive inflation higher.

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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote