The ASX 200 experienced significant volatility on Wednesday 4 November 2026 as traders awaited the outcome the US midterm elections. Initial declines were observed as US futures dropped but there was a late rebound . Key sectors like BHP and Rio Tinto fell . Positive expectations of a Democratic sweep in the US elections are supporting a more positive view for the ASX with projections indicating a potential 2% increase. Market movements are also influenced by hopes of an end to the Iran conflict, which have led to a decline in Brent prices.