A woman stabbed at least two people in Times Square on Monday afternoon, one fatally, and was shot dead by the police after she refused to put down her knife, according to two people with knowledge of the episode.

It was not immediately clear how seriously injured the other victim was. The Fire Department said that medics had taken three people to hospitals.

The episode unfolded just before 4:30 p.m. at Seventh Avenue and West 43rd Street, near a Police Department substation in the crowded heart of Times Square.

This is a developing story. Check back for updates.