It does, we actually use Transcranial Magnetic Stimulation to treat Major Depressive Disorder and a few other things. Precisely because electromagnetic waves can alter our perceptions and behavior.
Your use of "is" here is problematic (and that's what triggered the other responses).
I guess you mean "like". That would be accurate: TMS is disrupting normal brain activity a little like ECT does. It alters consciousness because it causes a partial reboot - an altered state. Drugs (and sleep and love and anger and meditation) also cause altered states. (Not to imply that any of these altered states are the same!)
The “is” I meant is that it induces an electric current in the brain. I’m sure there’s some subtlety (in the temporal and spatial patterns) but whether current is flowing between electrodes or is induced from a changing magnetic field, it’s still current, the effects of which are what we’re seeing.
Crucially, there is no special magnetic interaction with the brain beyond Faraday’s law, as people seem to be implying.
A changing magnetic field induces an electric field; this is how asynchronous motors work.
Having been in the room with a patient undergoing TMS a couple dozen times, I can assure you that the electromagnet will induce a muscle twitch from the electric field it creates. What it doesn't do is cause a seizure, which is the typical desired result of ECT.
This is just 100% false. To say that TMS is electric shock therapy because it changed electrical signals in the brain is totally misleading, if not, totally misunderstanding the science of the relationship between electricity and magnetism.
The fact that both electricity and magnetism can affect neurotransmission does not mean that TMS and ECT are the same thing. When they give people ECT they’re giving them controlled seizures. In TMS this is not the case at all.
https://en.wikipedia.org/wiki/Transcranial_magnetic_stimulat...