Hot water stops flowing after clunking noise
It sounds like it could be the cartridge slipping off the shaft and closing off the water supply.  Not at all sure on this, but be worth removing the cartridge or taking a look at the washer/ O ring carrier.  If this is a newer fixture, you can buy a new cartridge, if older and the shaft is broken or stripped, it may be time for a new faucet set.  The only way to really know is to open it up and take a look.  Make sure to turn off the water supply first!