The ASX 200 reacted with market swings on Wednesday 4 November 2026 as traders watched closely the US midterm elections. Initial declines were observed as US futures dropped but the market recovered towards the end. Key sectors like BHP and Rio Tinto fell . Positive expectations that the Democrats will win in the US elections are supporting a more positive view for the ASX with projections that the market could rise by 2% . Market movements are also supported by the anticipation of an end to the Iran conflict, which have led to a decline in Brent prices.