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 fell but a recovery later in the day . Key sectors like BHP and Rio Tinto declined. Positive expectations that the Democrats will take control 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 supported by the anticipation of an end to the Iran conflict, which have led to a decline in Brent prices.