Investors reversed course on some of the most popular bets over the previous two sessions, as traders described a sense of calm returning to a market shaken by the U.K.’s vote last week to leave the European Union.

Stocks rose around the globe, led by the sectors that recently have been beaten down the most, such as banks. Demand for havens eased after two sessions of heady gains. The dollar pared its rise against the British pound. The price of oil, which had posted its biggest two-day percentage decline since February, recovered...