The ASX 200 reacted with market swings on Wednesday 4 November 2026 as traders watched closely the US midterm elections. A drop was seen as US futures dropped but a recovery later in the day . Key sectors like BHP and Rio Tinto declined. Positive expectations that the Democrats will win in the US elections are contributing to a better outlook for the ASX with projections that the market could rise by 2% . Market movements are also influenced by hopes of an end to the Iran conflict, which have led to a decline in Brent prices.