In one of the most volatile trading sessions in recent memory, bargain hunters began to snap up shares in banks on Friday, lifting the industry's stock out of a weeklong slide.

The Standard & Poor's bank index closed up 0.77% at 456.83, while broader indexes crept closer to positive territory after a brutal morning selloff.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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