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A magnetic force microscope is used as a highly localized probe of the magnetic properties of Co‐Pd multilayer films. The stray field from the magnetic tip is used to induce magnetization changes in the sample on a scale of the order of ∼100 nm. These changes are characterized by discontinuous jumps in the force or force gradient acting on the tip due to its interaction with the magnetostatic stray field from the sample. Both reversible and irreversible domain‐wall motion is seen.