Mordenkainen's Disjunction

When this spell is cast, all magic and/or magic items within the radius of the spell, except those on the person of or being touched by the spell caster, are disjoined. 

That is, spells being cast are separated into their individual components (usually spoiling the effect as does a dispel magic), and permanent and magicked items must likewise save (versus spell if actually cast on a creature, or versus a dispel magic otherwise) or be turned into normal items. 

Even artifacts and relics are subject to Mordenkainen's Disjunction, although there is only a 1% chance per level of the spell caster of actually affecting such powerful items. Thus, all potions, scrolls, rings, rods et al, miscellaneous magic items, artifacts and relics, arms and armor, swords and miscellaneous weapons within 3" of the spell caster can possibly lose all their magical properties when Mordenkainen's Disjunction is cast.

Note: Destroying artifacts is a dangerous business, and 95% likely to attract the attention of some powerful being who has an interest or connection with the device. Additionally, if an artifact is destroyed, the casting magic-user must save versus spell at -4 or permanently lose all spell casting abilities.