Lira hits record low of 18.85 to the dollar
Key stocks indexes down between 3.45
A number of companies suspended from trading
Quake adds to election jitters, inflation woes and geopolitics

LONDON, Feb 6 Reuters Turkey39;s lira hit a record low and its stock markets tumbled on Monday as a major earthquake added to pressures from a strong dollar, geopolitical risks and surprise inflation readings out of the country.

The lira slipped to 18.85 , in early trade before retracing most of its losses. The country39;s main equities benchmark dropped as much as 4.6 with banks tumbling more than 5 before paring some losses with key indexes down between 3.45 by 1310 GMT.

Yields on local 10year government bonds rose to as much as 10.2 their highest in nearly two months.

The tragic events with southern part of Turkey being hit by a powerful earthquake is source of additional uncertainty ahead of crucial elections that most likely are going to be held in May, said Piotr Matys, senior FX analyst at In Touch Capital Markets.

More than 1,400 people were killed and thousands injured on Monday when a huge earthquake of magnitude 7.8 struck central Turkey and northwest Syria early in the morning, followed in the afternoon by another large quake.

Borsa Istanbul announced a temporary halt to transactions in shares of several companies in the earthquake zone in the early morning, though added more names to the list as the day progressed.

Emerging markets are under pressure more…