Robert Rodriguez Resort 2018

Known for designing easy and effortless ready-to-wear, Robert Rodriguez injected a “California Dreamin’” vibe to his latest collection. The theme was straightforward and Rodriguez successfully created updated and modern essentials — the button down, silky athletic pants and printed day dresses — that could easily be seen in the sunny, Cali setting. A red-and-white striped top and pant duo with lace cutoff details made for a great updated pajama set while a cropped white button down fit his cool-girl aesthetic. Rodriguez continually, and successfully, manages to design for the woman to look sexy yet covered. Highlights from resort included a double-breasted bomber and camel trenchcoat, with pleats on the back. Striped, one-shoulder jersey tops and metallic stirrup pants also made for easy, trendy layering options.See More From the 2018ResortCollections:Sandy Liang Resort 2018:The overall tone was noticeably quieter, more relaxed, but retained that playful dose of subversion to keep things modern.

Dunhill Men’s Spring 2018

“Dunhill needs to be new and young,” stated new chief executive officer Andrew Maag at the brand’s presentation Monday evening, which marked the debut collection from fellow ex-Burberry alum and new creative director Mark Weston, who also presented a capsule from the fall 2017 collection. “One-hundred percent of everything is new,”Maagadded. “We wiped the slate clean and started over. We needed a reboot.”Cue yet another whole new look for Dunhill in the brand’s latest in a string of reinventions over the last two decades, with more sportswear introduced into the mix for the hitherto traditionally focused brand. It was younger and sportier but retained the refined British sensibility that its customers — both existing and target — expect.A khaki field jacket was an example of this, teamed with a narrow pair of black trousers, shiny black boots and a simple white collarless shirt. Weston and Maag both singled out a reversible bomber jacket in a bottle green Fox Brothers boating stripe — a fresh spin on the traditional club coat — which could be turned inside-out for a sporty solid khaki alternative.

Bobby Abley Men’s Spring 2018

Dipsy, the Teletubby, in all his lime green plush glory, complete with twitching nose and kawai blinking eyes was the star attraction that closed Bobby Abley’s show, skipping and prancing adorably around the catwalk.Last season it was the Power Rangers, this season Teletubbies. A non-sequitur, sure, and some cynics might raise an eyebrow at the principles behind the pairing and wonder if Abley is treading a line perilously close to selling out, but it was fun and looked good, so who cares? A guy’s gotta eat, and there was plenty to like in Abley’s treatment of the children’s characters.The Teletubbiesappeared in backpacks and printed on Ts with long streams spouting from their bellies, while Abley’s signature bear logo was worn on belts, transformed into 3-D and wearing mini bondage harnesses. Christina Aguilera, the designer’s other, enduring obsession, was printed in black and white onto black T-shirts.

Nicholas Daley Men’s Spring 2018

Nicholas Daley held his first presentation as a part ofBFC’s NewGen sponsorship, with the British designercontemplating the notion of diversity andmulticulturalism while investigating the histories of fabrications.Daley’s quest into his own heritage led him to explore his Scottish ancestry and materials such as tartan. Hediscovered that in the 19th century, textiles were tradedbetweenSouthAsia and Britain and placed his focuson the madras check as an ode to the relationship between the two cultures.Daley scoured the Victoria & Albert Museum archives and browsed through madras prints from different eras — includingrare patterns from 1855.His blending ofculturesand fabrics translated into an impressive display of well-constructed separates with silhouettes that felt fluid and had anandrogynous feel.

Wales Bonner Men’s Spring 2018

A clean simplicity characterized Grace Wales Bonner’s collection, which was filled with lean, unadorned silhouettes. It was a departure from the rich textures, embellishment and ceremonial mood she’s mined in seasons past.“I wanted a change, I wanted to approach something through a modern lens…it was intentional to break with history in that way,” said Wales Bonner after the show. Instead, she said she’d thought about history through the prism of literature, printing a lengthy extract from writer and New Yorker critic Hilton Als’ essay “James Baldwin/Jim Brown and the Children” as part of her show notes.Along with looking at Chris Ofili’s paintings, Wales Bonner said she had drawn on “different black artists who explored a blue mood.”

Johanna Ortiz Resort 2018

Johanna Ortiz had her first official presentation this season. “I’ve done market for a year in New York but this is my first formal presentation. I feel ready to be here, I have met so many people from New York — and also, I think that my clothes appeal more on models rather than hangers so it was important for me to show it like this,” said the designer at her event in the garden of Ladurée in SoHo.Fashionwise, Ortiz said that she tried to give her signature Latin flair a Southwestern vibe, while also keeping in mind that the garments ship during the winter, so layering and heavier materials were integrated. The result? Her signature volume-sleeve shirts were layered under short-sleeve striped knits, plaid flirtatious skirts were paired with denim and feather jackets, a one-shoulder ruffled sweater and, for those holiday evenings, candy-striped sequence dresses and skirts.See More From the 2018ResortCollections:Giorgio ArmaniResort2018:Contrasting forces emerged in Giorgio Armani’sresortcollection, which spanned from eclectic, multicolor designs to essential, sophisticated attires.Norma KamaliResort2018:Norma Kamali offered an extensiveresortcollection where she updated her signature pieces and expanded on her outerwear and swim.Rachel ZoeResort2018:Rachel Zoe’sresortcollection was guided by a cool, Sixties undertone with a modern, sculptural interpretation.Lela RoseResort2018:The designer showed a charmingresortcollection of garden party-ready wares, which included pearls inset in sleeves and lace-up grosgrain details.AltuzarraResort2018:Joseph Altuzarra referenced Patrick Bateman and the French countryside for aresortcollection full of newness and some risks.

Moschino Resort 2018 and Men’s Spring 2018

For his Moschino resort 2018 and men’s spring 2018 collections, which he showed together in Los Angeles for the second year in a row, Jeremy Scott went on a Wild West road trip to celebrate symbols of Americana.“I was thinking hot rods and dusty roads from L.A. to Las Vegas and that Route 66 life, like the boneyards with all the old neon signs and pin-up girls and Playboy bunnies and these archetypes of Americana,” he said. “I’m feeling a little nostalgic about America. Is our America being lost by some psychopath?”It was a rhetorical question, but the collections Scott sent out provided concrete answers for Moschino fans in search of playful, colorful clothes that celebrate pop culture icons.

Rachel Zoe Resort 2018

How does the modern woman want to dress up in a way that’s equally effortless and casual as it is fun, original and exciting? Rachel Zoe asked herself this question when taking the first steps into designing her 2018 resort collection. “I’ve spent the last couple years trying to understand what my customer wants from me, and she wants me to tell her how to get dressed up,” she mused. “It’s my favorite part of designing, and my favorite styling. So why not just run with that?”Her resort collection melded Sixties cool with modern, sculptural elements. Holiday dressing options ranged from a sheer lace georgette jumpsuit with raw edges and a sequin minidress to metallic fringe gowns. Structured ruffles telegraphed modern glamour, while cutouts winked to the mod movement. Silhouettes from previous seasons were also redone in white lace for weddings, a category that Zoe is exploring for the future after multiple requests from her customers and extensive market research. For day-to-day looks, a sequin bomber could be paired with Zoe’s more casual, but still glamorous, separates.See more from the 2018 Resort Collections:

A Slump in Tech Stocks That Leaves Some Investors Mystified

The laws of gravity apparently apply to technology stocks after all.

After a relentless three-year ascent, large bellwether companies like Apple, Facebook, Google and Amazon led a two-day sell-off, prompting fears of a wider stock market retreat.

No one trigger related to the fundamentals of these companies spurred the snap back. As has been the case for years now, these technology giants sit on trillions of dollars in cash, are growing at a breakneck pace and, compared with companies in earlier tech frenzies, do not have absurd valuations.

Yet it has been this lack of an identifiable cause — a disappointing earnings result or a major investor’s unloading stock, for example — that has been worrying some market specialists.

“There was no real catalyst; I just think there has been a psychological change,” said Julian Emanuel, a stock market strategist with UBS Securities in New York. “Even though the long-term earnings picture with these stocks is favorable, there is discomfort with the disproportionate gains in these stocks.”


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On Monday, the technology-laden Nasdaq composite index closed down 0.5 percent. The broader Standard & Poor’s 500-stock index was also slightly lower, off 0.1 percent.

Netflix helped lead the way, declining 4.2 percent. Apple ended the day down 2.4 percent, with its shares recovering slightly from a 4 percent drop in earlier trading.

The S. & P. 500 Index

In the last two trading days, Netflix has lost 8.9 percent while Apple has lost 6.3 percent.

The declines for Google and Amazon have been less pronounced. On Monday, Google fell 0.9 percent and Amazon 1.4 percent.

To the broader point, UBS published a research report late last week noting that Facebook, Amazon, Apple, Microsoft and Google were responsible for one-third of the S.&P. 500’s return of more than 8 percent this year.

The bell does not ring at a stock market peak, the note explained, but there have been periods in recent history when investors, after riding a small group of stocks up to unexpected highs, have abandoned them en masse. The reasons for doing so, however, were less than obvious at the time.

UBS was not the only major investment firm weighing in late last week about the heavy influence of these stocks in investor portfolios.

Goldman Sachs released an analysis that raised concerns about how far these stocks had run, and two investment banks marked down their ratings for Apple, citing worries about slowing iPhone sales.

While traders have said hedge funds could be bailing out on these stocks, the larger question is the extent to which retail investors — given how vulnerable they can be to mood shifts in the market — will stick with them.

10-Year Treasury Notes

According to FactSet, a data collection company, 82 percent of today’s combined investor exposure to Facebook, Amazon, Apple, Netflix and Google is in the hands of large mutual fund companies such as Vanguard, BlackRock, Fidelity and the Capital Group.


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Hedge funds as an investor class, according to FactSet, hold just $58 billion in these stocks, which are collectively known by the acronym Faang. (Some analysts prefer “Faamg,” substituting larger Microsoft for Netflix.)

Compared with the $688 billion held in traditional mutual funds and their faster-growing cousins — exchange-traded funds, or E.T.F.s, which trade on stock exchanges — that is a very small figure.

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To a large degree, the ascendance of these companies is a result of their ability to grow and achieve startling success in a sluggish economy.

In the last week, however, a number of analysts have argued that the disconnect between Faang (or Faamg) stocks and other sectors tied more directly to the economy, such as financial and energy stocks, has become too significant to ignore.

Credit Suisse, in a trading alert on Monday, recommended that clients ditch QQQ, a $50 billion exchange-traded fund that tracks the Nasdaq index, in favor of XLF, a $22 billion E.T.F. that follows large financial companies.

In the last week, QQQ has declined by 3.3 percent and XLF has increased by about the same amount as investors large and small have started to make this change.

A version of this article appears in print on June 13, 2017, on Page B4 of the New York edition with the headline: Technology Giants’ Slump Leaves Some Investors Mystified. Order Reprints| Today’s Paper|Subscribe

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A Fierce Famine Stalks Africa

LONDON — Somalis traditionally did not number years but instead gave each a name that immortalized important events or crises.

Nineteen eleven was the year of forbidden food, meaning a hunger so profound that people were reduced to eating haram foods that Islam proscribes; nineteen twenty-eight was the year of registration, widespread drought forcing northern Somalis to finally submit to registration by their British colonizers in return for aid; nineteen seventy-four was the year of the long-tailed, an interminable drought in the whole region that contributed to the fall of Haile Selassie.

Famines have visited the Horn of Africa so regularly in the past 25 years that there has been no time for new poetic appellations.

As a child in the mid-1980s in Hargeisa in northern Somalia I suffered from malnutrition. My hair was just a pale fuzz on my head; I was small and sickly. The local hospital was starved of supplies and maintenance, and my mother got me treated by German aid workers in a sprawling refugee camp, some twenty miles away.

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