Shares in the biggest banks gained smartly in heavy trading Tuesday as investors scrambled to buy stock in companies that had been punished in the recent market swoon.

Nearly every bank posted gains, and the Standard & Poor's bank index rose 2.34%, after a 2.26% rise Monday.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.