As a divine being, Loki has enjoyed an incredibly long life in the Marvel Universe, and it turns out much of that time was spent fathering some of the world's most dangerous beings. While ancient monsters like the Fenris Wolf and the Jormungand Serpent are among Loki's mythic offspring, Amazing Spider-Man #503 revealed that his most dangerous child actually lives in modern-day New York, totally unaware of her incredible potential for destruction.
The issue — from Fiona Avery, J. Michael Straczynski, and John Romita Jr. — introduces Tess Black, a seemingly normal woman who is secretly one of Loki's «hundreds» of daughters across time and space. After Spider-Man interferes in a battle between Doctor Strange and Dormammu, the Sorcerer Supreme's magical energies allow a powerful being to escape its cosmic imprisonment. While the issue doesn't immediately reveal the identity of this magical villain, its power is emphasized when it's shown that Loki, Heimdall, Death, Lord Chaos, and the Elders of the Universe known as the Gardener and the Grandmaster all feel it arrive on the earthly plane.
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Ultimately, it's revealed that this being is Morwen — a wildly powerful magical being described as «the First Sorcerer of Chaos.» Sensing her divine nature, Morwen possesses Tess Black, and is then compelled by the rules of magic to reward Spider-Man for his part in freeing her… or to destroy him if he won't accept the gift. Realizing that Morwen poses incredible danger, Spider-Man refuses her offer of ultimate power and a seat at her side as she conquers the world. Thankfully, Morwen gives him some time to reconsider, during which Loki arrives and asks for Spider-Man's help
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