European and Asian markets fell Wednesday, as a build-up of Russian forces near the Ukraine border sparked fears of an invasion and as Russian President Vladimir Putin ordered his government to retaliate against U.S. and EU sanctions. Geopolitical fears are also hurting German factory orders, which fell 3.2% in June, an unexpected decline in Europe’s largest economy. Earnings disappointments weighed on individual stocks including reinsurer Swiss Re AG, which posted a lower-than-expected second-quarter net income of $802 million. Telecom Italia AG was down in Milan on a 7.6% drop in its first-half earnings. Bucking the negative trend, ING Group NV rose after it reported a 19.2% jump in second-quarter net income and saying that it may pay settle its remaining state aid bill with the Dutch government earlier than planned.