An anisotropic instability of a plasma in the presence of either a con
stant electric field or an external microwave field is studied. This i
nstability arises in the presence of nonzero directed electron velocit
y and leads to the generation of a spatially periodic quasistatic magn
etic held. A nonlinear time-dependent equation describing the instabil
ity dynamics is derived, and the time-independent solution to this equ
ation, which describes the final stage of the formation of a periodic
current-sheet structure, is analyzed.