The ASX 200 experienced significant volatility on Wednesday 4 November 2026 as traders watched closely the US midterm elections. There was a slight decrease as US futures declined but there was a late rebound . Key sectors like BHP and Rio Tinto dropped . Positive expectations of a Democratic sweep 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 influenced by hopes of an end to the Iran conflict, which have led to a decline in Brent prices.