Markets fall as crucial German vote nears

Shares across the globe fell overnight as renewed fears about Germany's likelihood of approving rescue plans plagued investors once again.

Germany's Federal Constitutional Court is due to rule this week on the country's participation in the European Stability Mechanism (ESM), a €500bn fund that offers loans to member states and may buy their bonds to lower borrowing costs. The ESM should help keep a lid on soaring costs for struggling nations like Spain, but it needs the backing of the eurozone's leading economy to have any chance of success. Ahead of the vote, investors were nervous, with ongoing talk Greece is struggling to approve budget cuts also doing the rounds. In reaction, shares in the US and Asia all fell ov...