What on earth is going on in the world’s financial markets? On 2 July the Nikkei 225 average, Japan’s benchmark, slid for the 10th consecutive day. By late trading the next day it had climbed a miserable 10 points.

universal studios theme park japan 051206 Big deal? It is. Here’s why.

The world’s third biggest economy dropped 8.1% in the 10-day streak. And get this: It’s the longest 10-day consecutive drop since 1965.

Will it bounce back?

The next day’s trade suggested it would be a dead cat’s bounce. It limped all day and closed lower again. That’s the 11th straight days of loss, the worst since 1953.