beep and garbage with long commands

[slumos@xxxxxxxxxxxxxxx]

When entering certain long commands, zsh (at least 4.0.7 and 4.2.0 on
at least FreeBSD and Solaris) beeps and echos parts of the command.
Here's a stupid made-up example:

[~]0% ls -la | while read line; do echo $line | awk '{print $1 " " $2 " " $3 " " $4 " " $5 "\n"}'; done >|/dev/null; echo

"}'; done >|/dev/null; echo
[~]0% 

Steve