AI Dooms, Crypto Clarity Booms, Banks Gloom, Oil Zooms, As Fed Looms

Tl;dr: A double-whammy of Saudi pipeline shutdown (oil to the moon) and the AI development 'pacing' prompted an ugly start to the day for stocks (mostly tech/AI-related and bonds (10Y topped 5.00%). BofA stole the jam out of the banking sector's donut with a weak revenue guide. The dollar strengthened, weighing on gold, but optimism (and a Bessent tweet) on the Clarity Act drove bitcoin higher.

Amodei and the Ayatollah tag-teamed to trash the markets...

Energy