The ASX 200 reacted with market swings on Wednesday 4 November 2026 as traders awaited the outcome the US midterm elections. A drop was seen as US futures dropped but there was a late rebound . Key sectors like BHP and Rio Tinto dropped . Positive expectations that the Democrats will win in the US elections are improving the market sentiment for the ASX with projections indicating a potential 2% increase. Market movements are also driven by expectations of an end to the Iran conflict, which have led to a decline in Brent prices.