Note: This directly follows on from events details in New Mutants issue 34.
Loki had been observing Storm from his home in Asgard. He had previously been forced to swear that he would never interfere with the X-Men again (see the X-Men/Alpha Flight two-part mini series), so he forced the Enchantress to go in his place.
Down on Earth on the Greek island of Kirinos, Storm took food into a dark room. Karma was sat in the dark and refused to eat anything. She was still extremely obese after her encounter with the Shadow King. Meanwhile, the New Mutants relaxed on the beach. Magma was wistful with hopes of visiting Rome, while Magik & Cypher attempted to educate Warlock on male beach fashion. Mirage disturbed the peace by using her illusionary power to create monsters & rock-slides as an impromptu training session. It caused arguments, but they were soon distracted by mysterious black clouds that blocked the soon. Asgardian riders attacked the New Mutants, disabling & kidnapping them with ease. Loki personally oversaw Storm's kidnap and redressed her in something more Asgardian.
In Asgard, the New Mutants were held in the Enchantress' fortress. Magik immediately acted by using one of her stepping discs to teleport the team away. However, the barriers placed around the fortress interfered with the stepping disc and the team was scattered around Asgard leaving Magik behind. She was soon strapped to a magical wall that restricted her own magical powers.
The New Mutants were separated all over Asgard:
Karma was abandoned in the middle of a scorching desert. She lay back and awaited a slow death.
Cypher appeared in a banquet hall, where his physical prowess was challenged. He couldn't even lift an Asgardian sword. Therefore he was easily defeated by the serving maid and forced to become a servant with a huge collar chained around his neck.
Wolfsbane ran from giants in the forest and encountered Hrimhari, a silver wolf prince.
Warlock absorbed the lifeglow of dragons at the entrance to Hel and fled when Hela herself approached. She could see the potential within Warlock to be a great ally for her.
Sunspot found that the Asgardian sun gave him greater strength than he had ever dreamed of, and that all the girls in the local bars adored him for it.
Magma had fallen into the company of elven folk. They ignored her pleas to help look for her friends. Instead they repeatedly offered her luxurious food & drink. When she finally tasted the mead she was overcome by the delicious taste and gorged until she fell unconscious. The enchantments in the elves food began to transform her, stealing her humanity.
Cannonball was lost in underground tunnels where he met a group of gruff dwarves. He used his power to protect a dwarf lady from her attacker, but in his weakened state he was pierced in the shoulder blade by a spear.
Outside in the grasslands, Mirage found a pegasus trapped in a muddy bog. After she removed the barbed wire from it's wings she was confronted by the riders who had trapped it. Deftly dodging their attacks she held them at bay with a psychic image of Hela. They scattered at the unexpected arrival of Mist, a valkyrie, who invited Mirage to meet her sisters.
Magik was tortured by the Enchantress. The Darkchild part of her soul was pulled out of her, given her own free form. However, the Darkchild was a puppet to the Enchantress, and any damaged she sustained was immediately transferred to Magik.
Magma heard screams of a child who was being chased by a giant Sand Demon. Using her power to possess it, she managed to drive the monster off. The little girl cowered by her and begged for her help. Karma was unable to let another life die because of her, and so began a journey across the desert. She would use her power to posses desert creatures, and the sword of a fallen warrior to slay them for their food.
The banquet hall where Cypher was held came under attack from the Darkchild and her riders. She demanded that they hand him over to her. When the master of the hall fell in battle, Cypher ran out the back window. There he was met by Warlock, who encapsulated Cypher and flew him away to safety.
Wolfsbane was enamoured of the wolf prince. He could change his form into something that resembled her transitional form, but he could not be human in appearance. She was willing to stay with him until she suddenly remembered her friends. Wrought with guilt, she fled her would-be lover. He howled late into the night, pining for her. When they reunited at night she transformed into a girl and began to cry. However she was soon caught by the Darkchild and trapped inside an enchanted suit of armour.
Sunspot's strength and 'shadow skin' had fast become great news. The Warriors Three paid him a visit, and he succeeded in Volstagg's challenge to lift him (although he sprained his back in doing so). While revelling in the attention of the local girls, he was caught off-guard by the Darkchild and trapped inside a walking suit of armour.
Cannonball awoke in Eitri's underground home. The king of the dwarves was grateful that Cannonball had saved his wife, while his daughter nursed him to health. Suddenly they came under attack by the Dark Elves, and by Magma in particular. She had been transformed into a short elf made of molten lava. Cannonball managed to defeat Magma, but sustained more injuries. Eitri's dwarves managed to cast their own spells on Magma to restore her mind.
Mirage flew through the air on her pegasus, Brightwind. Mist's sisters debated the suitability of Mirage's presence. She overheard them discussing her fate and decided to run away with Brightwind.
Meanwhile, Storm was enchanted by Loki's magic & lies. He used a golden cloak of feathers to disguise her as a falcon as he descended into Eitri's kingdom. There he threatened to kill Cannonball for being an intruder. As payment for sparing Cannonball's life he demanded that Eitri forge him a hammer to rival Thor's Mjolnir.
Karma finally reached cool grasslands. When the New Mutants had been scattered, she had been thrown backwards through time as well as in space. By the time she reached the end of the desert she had lost all of her excess fat. There she was reunited with Warlock & Cypher, but the girl who had been her companion across the desert mysteriously disappeared. Instead, a white piece of string appeared on her finger as a gift from the Norns.
The Darkchild and her riders appeared ready to claim Cypher, Karma & Warlock. Karma prepared to use her sword, while Warlock became a giant robotic power suit for Cypher to fight within. Cannonball and Magma joined the fight, soon followed by Mirage on her pegasus.
The Enchantress watched the fight through a magical mirror in her fortress. When Karma attempted to posses the Darkchild she caused psionic feedback that destroyed the mirror. Without any means of communication, the Enchantress had been forced to wait for the Darkchild to return. When she did, the rest of the New Mutants were with her. However, they sprung their ambush and soon defeated the Enchantress' guards.
Karma held her possession over the Darkchild and forced her down the spiral-staircase to the dungeons. There she found Magik; battered and bloodied. Magik's body was soon restored to health when the Darkchild merged back inside of her. The Enchantress suddenly attacked Magik, but was suddenly caught off guard by the rest of the New Mutants breaking in through the wall. Karma caught possession of her and Magik teleported them all to Limbo before the Enchantress could break free.
In Limbo Magik handed the Enchantress over to Sym with the specific instruction that she was not to be physically harmed (but he could otherwise use his imagination). The team celebrated, but it was a pyrrhic victory. Magma was still an elf who was connected to the Asgardian woods, Wolfsbane desired to see her wolf-prince again, Mirage wanted to know why she had been chosen as a Valkyrie, Karma wished to know more about the Norns and Sunspot enjoyed being a well-known & loved hero for a change.
The New Mutants had to save Storm. So as a team they agreed to stay in Asgard. They had freed themselves and defeated the Enchantress, so they would so the same with Loki to save Storm.
Note: The Asgardian Adventure is concluded in Giant-Sized Annual Uncanny X-Men #9.