Virginia's governor declared a state of emergency today and North Carolina ordered mandatory evacuations for visitors from several barrier islands as powerful Hurricane Earl bore down on the coastal states with winds topping 125 mph. Coastal residents from the Carolinas as far north as Cape Cod are on alert, despite the fact that it was downgraded from a Category 4 storm to a Category 3. Officials said they expect "fluctuations" in Earl force in the coming days, but it is still expected to pack a wallop.

The National Hurricane Center warned that Earl could send water rising 3 to 5 feet along coastal areas.

The high winds and heavy rains are also expected to disrupt air traffic along the east coast through the Labor Day weekend, with many flights delayed and others canceled.

"To avoid inconvenience, travelers may wish to delay commencement of their trip," Continental Airlines said in a release today.

Powerful Category 4 Hurricane Earl has been wreaking havoc across islands in the Atlantic Ocean. Now, Don Teague reports that the U.S. East Coast is now at risk of the storm's wrath.

• Video Hurricane Moves Toward East Coast

  Hurricane Earl is moving toward the East Coast of the U.S. and already causing dangerous riptides. Don Teague reports.

• Video All Eyes on Hurricane Earl

  As Hurricane Earl closes in on the east coast, F.E.M.A. put millions on alert to prepare for possible evacuations. Dave Price reports from North Carolina.

Virginia Gov. Bob McDonnell declared a state of emergency today in anticipation that Earl could shift and head for coastal communities as early as Thursday night.

"The current forecast has Hurricane Earl passing east of Virginia later this week. However, a change in the storm's path could bring hazardous weather conditions to eastern Virginia," McDonnell said in a statement. "This declaration is a precautionary move which will allow state agencies to be ready just in case resources are needed."

The state's coastline is already under a hurricane watch.

Hyde County Manager David Smitherman in North Carolina declared a state of emergency and ordered an evacuation this morning of Ocracoke Island, a barrier island accessible only by ferry.

The state of emergency affects about 5,700 people in the county and allows officials to call upon additional resources as the storm approaches, Smitherman said.

In other parts of North Carolina, Atlantic Beach residents are packing up chairs and trash cans off beaches.

Officials have been meeting frantically to set-up preparations and are asking the public to pay attention.

Earl is moving in a northwest direction and could hit the North Carolina coastline by late Thursday.