Your post doesn't offer much detail and the phrase "clanging noise" is not very specific. It sounds to me like you are just playing an electric bass guitar unplugged and recording the sounds directly with your phone.
Firstly, a $200 bass guitar sounds very cheap, especially for a Fender.
EDIT: This is ambiguously phrased. I mean to say that $200 seems like a very low price to pay for a Fender. To be clear, I do not mean to suggest that your guitar is a lost cause. I would say that if you got a good new guitar for $200, you should consider yourself lucky.
I would expect to pay at least 3 times that for an instrument of decent quality. That being the case, you might expect that the intonation of the instrument and the construction/alignment of its neck might be somewhat imprecise on this more affordable guitar. Poorly built necks suffer from bad intonation and fret buzz. I own a cheap Epiphone guitar and its most frustrating component by far is the neck. No matter what adjustments I make with the truss rod or pickup height or bridge saddles or nut, the notes always sound out of tune somewhere on the neck.
EDIT 2: Anecdotally, I paid a pro who works near Berklee School of Music to set up my Epiphone and he told me that the neck sucked and that, no matter what adjustments he made, I would always have fret buzz and intonation problems unless I replaced the neck. You may have better luck. I still have the Epiphone because it sounds great for a few open chords.
In any case, the hammer-ons you seem to be playing are likely causing the string to vibrate on both sides of your fret finger such that you have both halves of the string resonating: the usual, desirable half of the string between your finger and the bridge and the other, undesirable half of the string between your fret finger and the nut. The result is that you sort of have two notes playing at once and they are almost certainly going to be out of tune with each other.
If you were plugged in and turned up, the desirable half of the string would be amplified by your pickup much more loudly than the undesirable half of the string, which has no pickup. There might be some small amount of the undesirable vibrations being propagated through the neck to the body of the guitar, but it would probably be inaudible compared to the desirable half of the string.
If you are plugged in and have a very clean sound and/or cheap pickups, you might still be able to hear this undesirable vibrations interfering with your desired note. You might be able to mitigate the problem with your fret hand by using your palm or another finger to mute the half of the string between your fretting point and the nut. This sounds a bit tricky to me. The hammer-on you are playing seems to require the open string note alternated with the fretted note. Getting another finger or palm in play just enough to mute that unwanted vibration while still getting a good tone for both the open string and the fretted note might be difficult and require some practice.
Have you tried playing the bass plugged in and turned up? Do you also get that same 'clang' when you play a more expensive guitar?
EDIT 3: Your problem may also be due to fret buzz. More specifically, when you play notes in a certain range on your guitar, the vibrating string scrapes against one of the frets higher up on the string causing unwanted noise. This noise may be buzzing or an unintentional harmonic. It also damps the vibration, reducing sustain. Fret buzz in many cases can be solved by adjusting one or more of the following:
- your bridge to change the height of the strings
- your nut (these wear down over time and your strings can get too low, this would manifest as string buzz when you play lower notes, replacement is fairly affordable)
- your neck's truss rod (this affects the curvature of your guitar's neck)
- the frets themselves (frets can wear down and get too low over time, or poorly installed ones might have irregular heights)
