Can anemia hurt my baby? 26 weeks pregnant

Yes it can. Iron deficiency anemia is the most common anemia during pregnancy.As the fetus grows, it requires more nutrients-and iron is one of the most important thing for the fetus to grow- also for normal brain development. Folic acid is another important thing-required for a normal brain/nerve development. If you are anemic due deficiency in iron/ folate (folic acid) & you dont get replacement- it can hurt your baby.
Very unlikely. Fetus is generally protected because adequate amount of iron is still transferred from the mother even when she is anemic.