2nd Quarter 2012   The slowdown in global economic activity and heightened macroeconomic risks were reflected in negative equity returns for the quarter.  The Dow fell 3%, the S&P 500 3%, and the NASDAQ 5%.  International equities were even more affected by the downturn with the MSCI EAFE dropping 7% and the MSCI Emerging nearly 9%.  The flight to quality resulted in posi ...