11.   If he is right, the inflation-wary Federal Reserve will probably push up rates again and the markets will suffer.

12.   If rates rise much higher, though, emerging markets could suffer troublesome declines in exports and higher borrowing costs.

13.   If the market suffers a sharp decline during that period, the investor can bring his or her average purchase cost down through later investments made at lower costs.

14.   In each case, the market suffered a substantial setback during the next term.

15.   Italian markets suffered from a one-two punch of rising European interest rates and the possibility the government would fall.

16.   Moreover, the pain has been worldwide, with interest rates rising -- and bond markets suffering losses -- in every major industrialized country.

17.   Not all emerging markets suffered.

18.   On Tuesday, though, the market suffered its worst setback in six months when the latest trade deficit numbers came in much higher than expected.

19.   Particularly since July, when the market suffered its worst dip of the year, this has been a rally dominated by large stocks.

20.   Quite apart from a lack of transparency, the Belgian market also suffers from a lack of liquidity.