Why magnets shouldn't be brought closer to current-carrying wire?

When a current-carrying conductor (wire) is placed in a magnetic field, the conductor experiences a force which is responsible for the movement of the conductor.

This happens because the current-carrying conductor acts as an electromagnet and generates its own magnetic field around it, because of the moving charges in the conductor.

Due to the interaction of two magnetic fields, one produced by the conductor and the other by the magnet, then attraction and repulsion will occur between them based on the direction of the external magnetic field and the direction of the current in the conductor.

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