First Minister Eluned Morgan urged people to take the weather warnings seriously.
“Red means there is a potential danger to life,” she said.
Ms Morgan advised people to only travel if it was “necessary”.
Meanwhile, Deputy First Minister Huw Irranca-Davies warned there may be very significant impacts from Storm Darragh and urged people to take extreme care over the weekend.
He added the government would be monitoring the situation closely.
People have been warned to stay alert for flying debris and falling trees, along with large waves hitting sea fronts, homes and roads.
Power cuts and travel disruption are also possible, the Met Office added, with the M48 Severn Bridge closed in both directions.
The RNLI advised those living near or visiting the Welsh coast to exercise “extreme caution” and Cardiff Airport has said it will be closed from 03:00 to 11:00.
Transport for Wales said train services may be subject to “short notice delays, alterations, and cancellations” and advised people to check their journeys before travelling.
Sharon Scott, of Betsi Cadwaladr health board, said people should “take extra care”, adding: “When severe weather is expected we always put plans in place to ensure the safety of our patients and staff and to ensure our services are protected in the event of disruption as far as possible.”
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