{"id":66780,"date":"2026-08-20T02:08:22","date_gmt":"2026-08-20T06:08:22","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-urges-crypto-clarity-act-passage-as-economic-d-day-against-iran-rattles-oil-markets\/66780\/"},"modified":"2026-08-20T02:08:22","modified_gmt":"2026-08-20T06:08:22","slug":"trump-urges-crypto-clarity-act-passage-as-economic-d-day-against-iran-rattles-oil-markets","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-urges-crypto-clarity-act-passage-as-economic-d-day-against-iran-rattles-oil-markets\/66780\/","title":{"rendered":"Trump Urges Crypto Clarity Act Passage as &#8220;Economic D-Day&#8221; Against Iran Rattles Oil Markets"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-urges-crypto-clarity-act-passage-as-economic-d-day-against-iran-rattles-oil-markets\/66780\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-urges-crypto-clarity-act-passage-as-economic-d-day-against-iran-rattles-oil-markets\/66780\/#Trump_Pushes_for_Crypto_%22Clarity%22_Amid_Market_Surge\" >Trump Pushes for Crypto &quot;Clarity&quot; Amid Market Surge<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-urges-crypto-clarity-act-passage-as-economic-d-day-against-iran-rattles-oil-markets\/66780\/#%22Economic_D-Day%22_and_the_Shift_in_Iran_Strategy\" >&quot;Economic D-Day&quot; and the Shift in Iran Strategy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-urges-crypto-clarity-act-passage-as-economic-d-day-against-iran-rattles-oil-markets\/66780\/#Treasury_Intervenes_to_Calm_Bond_Market_Volatility\" >Treasury Intervenes to Calm Bond Market Volatility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-urges-crypto-clarity-act-passage-as-economic-d-day-against-iran-rattles-oil-markets\/66780\/#Fed_Minutes_Signal_Potential_for_Further_Hikes\" >Fed Minutes Signal Potential for Further Hikes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-urges-crypto-clarity-act-passage-as-economic-d-day-against-iran-rattles-oil-markets\/66780\/#Retail_Giants_Walmart_and_Alibaba_in_Focus\" >Retail Giants Walmart and Alibaba in Focus<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>) and Ether (<a href=\"\/stock\/ETH\">ETH<\/a>) surged<\/strong> following President Trump\u2019s call for Congress to pass the <strong>CLARITY Act<\/strong>, a landmark bill aimed at establishing a federal regulatory framework for digital assets.<\/li>\n<li><strong>President Trump announced &quot;Economic D-Day&quot; against Iran<\/strong>, threatening &quot;tremendous consequences&quot; for any entity providing a lifeline to Tehran; <strong>Brent crude rose toward $92\/bbl<\/strong> on the news.<\/li>\n<li><strong>U.S. Treasury yields tumbled<\/strong> after the Department of the Treasury announced it would <strong>double the size of long-end buybacks to $4 billion<\/strong> per operation to support market liquidity.<\/li>\n<li><strong>FOMC Minutes revealed a hawkish tilt<\/strong>, with &quot;many&quot; participants assessing that <strong>higher interest rates would likely be necessary<\/strong> if inflation does not show further signs of cooling.<\/li>\n<li><strong>Walmart (<a href=\"\/stock\/WMT\">WMT<\/a>) and Alibaba (<a href=\"\/stock\/BABA\">BABA<\/a>)<\/strong> are set to report second-quarter earnings today, providing a critical cross-read on global consumer health and e-commerce growth.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Trump_Pushes_for_Crypto_%22Clarity%22_Amid_Market_Surge\"><\/span>Trump Pushes for Crypto &quot;Clarity&quot; Amid Market Surge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Digital assets saw a significant boost on Thursday as President Trump urged the Senate to pass the <strong>Digital Asset Market Clarity Act (CLARITY Act)<\/strong>. During a White House event attended by executives from Coinbase (<a href=\"\/stock\/COIN\">COIN<\/a>) and Ripple, Trump framed the legislation as essential for the U.S. to maintain its technological lead over China. The bill seeks to distinguish between digital securities, commodities, and stablecoins, potentially providing the regulatory certainty long sought by institutional investors.<\/p>\n<p>Market sentiment was further bolstered by Trump\u2019s comments regarding a <strong>strategic Bitcoin reserve<\/strong>. When asked about the government accumulating the asset, the President noted it would &quot;take a lot of pressure off the dollar&quot; and that he would be open to recommendations from regulators. <strong>Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>)<\/strong> climbed toward the <strong>$67,000<\/strong> level, its highest in a month, as traders anticipate the bill could reach a final Senate vote as early as September.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%22Economic_D-Day%22_and_the_Shift_in_Iran_Strategy\"><\/span>&quot;Economic D-Day&quot; and the Shift in Iran Strategy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a major shift in foreign policy, President Trump announced a &quot;crushing economic operation&quot; against Iran, moving away from recent military strikes toward total economic isolation. Dubbed <strong>&quot;Economic D-Day,&quot;<\/strong> the new measures threaten sanctions against any country or financial institution that facilitates Iranian trade, specifically targeting oil smuggling, cash transfers, and ship registries. The announcement immediately put a spotlight on China, the primary buyer of Iranian crude.<\/p>\n<p>Oil markets responded with <strong>Brent crude<\/strong> advancing for a fifth consecutive session, trading near <strong>$92 per barrel<\/strong>. Despite the escalation, Trump reiterated that &quot;<a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> will be a lot lower when this is over,&quot; pointing to increased domestic production from Texas and Alaska. Analysts at <em>Karobaar Capital<\/em> noted that while the headline is significant, the market remains focused on whether physical flows through the <strong>Strait of Hormuz<\/strong> are actually disrupted.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Treasury_Intervenes_to_Calm_Bond_Market_Volatility\"><\/span>Treasury Intervenes to Calm Bond Market Volatility<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The U.S. Treasury Department took decisive action to stabilize the bond market by doubling its liquidity support buybacks for long-dated securities. Starting September 9, the maximum size of these operations will increase from <strong>$2 billion to at least $4 billion<\/strong>. The move was seen as a direct response to the <strong>10-year Treasury yield<\/strong> nearly touching <strong>4.75%<\/strong> earlier in the week, the highest level since before the Great Financial Crisis.<\/p>\n<p>Following the announcement, the <strong>10-year yield fell to 4.65%<\/strong>, providing immediate relief to equity futures and mortgage-backed securities. Treasury Secretary <strong>Scott Bessent<\/strong> emphasized that the move is intended to ensure &quot;consistent sponsorship&quot; in the 10-year to 30-year sectors. Market participants have labeled the intervention the &quot;Bessent Put,&quot; suggesting the Treasury is now actively monitoring and capping the rise in long-term borrowing costs.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fed_Minutes_Signal_Potential_for_Further_Hikes\"><\/span>Fed Minutes Signal Potential for Further Hikes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Minutes from the Federal Reserve\u2019s July meeting, released Wednesday, indicated that the central bank remains on high alert regarding persistent inflation. While the FOMC voted <strong>9-3<\/strong> to hold rates at <strong>3.5%\u20133.75%<\/strong>, the three dissenters\u2014including Cleveland Fed President <strong>Beth Hammack<\/strong>\u2014pushed for an immediate quarter-point hike. The minutes noted that &quot;most participants&quot; expect inflation to cool, but &quot;many&quot; warned that additional tightening would be required if progress stalls.<\/p>\n<p>The hawkish tone of the minutes was somewhat offset by the Treasury\u2019s buyback announcement, but it keeps the pressure on upcoming data releases. Investors are now looking toward the <strong>Jackson Hole symposium<\/strong> next week for further guidance from Fed Chair <strong>Kevin Warsh<\/strong>, particularly as core PCE inflation is expected to remain elevated at <strong>3.3%<\/strong> when reported later this month.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Retail_Giants_Walmart_and_Alibaba_in_Focus\"><\/span>Retail Giants Walmart and Alibaba in Focus<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The earnings spotlight turns to <strong>Walmart (<a href=\"\/stock\/WMT\">WMT<\/a>)<\/strong> and <strong>Alibaba (<a href=\"\/stock\/BABA\">BABA<\/a>)<\/strong> this morning. Walmart is expected to report adjusted EPS between <strong>$0.72 and $0.74<\/strong>, with investors looking for continued strength in its e-commerce and advertising divisions, which grew <strong>26% and 37%<\/strong> respectively last quarter. The company\u2019s ability to gain market share in the grocery sector remains a key theme for analysts.<\/p>\n<p>Meanwhile, <strong>Alibaba (<a href=\"\/stock\/BABA\">BABA<\/a>)<\/strong> faces a more complex setup as its cloud division now accounts for <strong>74% of group profits<\/strong>. While the company has moved its earnings date forward, signaling confidence, it continues to navigate a sluggish Chinese retail environment. Options markets are pricing in a <strong>\u00b15.7% move<\/strong> for Alibaba shares following the release, as the company seeks to prove its &quot;mark-to-market&quot; investment gains can translate into sustainable GAAP earnings growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Bitcoin (BTC) and Ether (ETH) surged following President Trump\u2019s call for Congress to pass the CLARITY Act, a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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