The early fashion trend from the 2014 Academy Awards: Waterproof
Credit: Steve Granitz/WireImage

As you may have surmised from early red carpet coverage, it’s a little rainy at the Oscars. (See Kelly Osbourne above.) Aside from the hashtag #redcarpet, what we’ve deduced from Hollywood’s biggest night is that the main Oscar fashion trend of 2014 is umbrellas.

The carpet was so soaked in the days leading up to the Oscars that it needed to be squeegeed.

The hot accessory this year? Ponchos. So many ponchos.

Giuliana Rancic travels with her own personal halo.

Even Oscar himself is scrambling to keep dry.

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