However, Dow component Walmart Inc WMT.N fell 4% after the retail giant cut its annual profit forecast, signaling a bigger hit to margins from surging costs. In Europe and Asia, shares jumped as Shanghai achieved the long-awaited milestone of three straight days with no new COVID-19 cases outside quarantine zones, raising hopes that restrictions might be eased. A positive first-quarter earnings season has been overshadowed by worries about the Ukraine war, soaring inflation, COVID-19 lockdown in China and aggressive policy tightening by central banks.