Update 1:28pm: The stabbing suspect that was shot by SFPD has died.
A San Francisco police source reports an officer-involved shooting near 5th and Market streets.
One person was shot while carrying a knife but there are no further details about the incident at this time.
Officers are warning people in the area to expect street closures and traffic delays due to the ongoing investigation.
Market Street has been shut down in both directions, according to the San Francisco Department of Emergency Management.
Story: ABC-7 TV