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The earth maintains a magnetic field due to the metals that make up its core. Thus, all rocks are influenced by this magnetic field and "face" the direction the field is "facing". Every few hundred million years the poles switch, and with it the magnetic field. Similarly, all rocks "face" the new direction. Magnetic strips are indicators of when the magnetic field of the Earth changed.

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Q: Why are there magnetic strips on the ocean floor what do they mean?
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