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Electric current has can act on magnetic materials. The current we use in our homes is alternating current. It varies in magnitude over time.  Electric appliances exert force on magnetic materials. The magnets can get highly magnetized due to flux coming from electric appliances.

 Magnets can get highly magnetized or demagnetized and may get spoilt - lose magnetism.

movement of Magnets near conductors could generate small current flow and such small currents could damage the electronic equipment or damage its internal circuitry. If the magnets are strong then effect could be dangerous. If some electronic item is made to move at a high speed near our electric transmission wires on the poles, then the impact could be high.
Electric currents can have huge effects on magnets.Electric appliances exerts force on magnetic materials. An iron can get magnetised and a magnet can get demagnatzed
because they can damage the electric currents