The ASX 200 saw fluctuations on Wednesday 4 November 2026 as traders watched closely the US midterm elections. A drop was seen as US futures declined but a recovery later in the day . Key sectors like BHP and Rio Tinto dropped . Positive expectations of a Democratic sweep in the US elections are improving the market sentiment for the ASX with projections of a 2% surge . Market movements are also driven by expectations of an end to the Iran conflict, which have led to a decline in Brent prices.