With the use of light and electron microscopy chaotically distributed zones of shear localization were revealed in specimens of a number of materials under impact loading. The materials studied were as follows: copper, Cu-Mn alloy, steels types 35KhN2MFA and 30KhN4M. The zones constituted perfectly circular disks 20μm thick and 1-2 mm in diameter. Investigation results showed that local shear stress along the direction of shock wave propagation was 20 times more than an average shear stress. It was found out that under impact loading the rapid dynamic recrystallization proceeded in a short time interval. The material became superplastic and disk-like zones with nanocrystalline internal structure were formed under the action of surface tension forces.