  We demonstrate ultrashort (6 ps), multi-Megagauss (27 MG) magnetic pulses
generated upon interaction of an intense laser pulse (10^{16} Wcm^-2, 100 fs)
with a solid target. The temporal evolution of these giant fields generated
near the high density critical layer is obtained with the highest resolution
reported so far. Particle-in-cell simulations and phenomenological modeling is
used to explain the results. The first direct observations of anomalously rapid
damping of plasma shielding currents produced in response to the hot electron
currents penetrating the bulk plasma are presented.
