San Francisco Police Shooting: Officers Fire Gunshots In Financial District (VIDEO, UPDATED)

UPDATE (9:55 a.m.): The suspect died at San Francisco General Hospital after undergoing surgery. His name has still not been released.

An officer-involved shooting occurred at the intersection of Washington and Drumm streets in San Francisco's financial district Wednesday morning, authorities said.

According to SFPD spokesman Michael Andraychak, police were responding to reports of a stabbing in the area ten minutes before the shooting occurred. According to officials at the fire department, the stabbing occurred at Pier 17.

Authorities say the officer in question fired shots after the suspect refused to drop his weapon. He was taken to SF General Hospital with a life-threatening injury and his condition remains unknown.

Occupy SF pointed out that the shooting occurred blocks from their encampment, but it's unclear if the movement is related to the incident.

Click over to ABC News for a live stream of the events as they unfold or watch their initial report below.

UPDATE (2:15 p.m.): The suspect, a 30-year-old temporary employee at the TCHO Chocolate Factory on the Embarcadero, remains in critical condition.

He allegedly stabbed a fellow employee at the factory with box cutters for no apparent reason, Police Chief Greg Suhr told reporters. When a female officer arrived on the scene, she ordered him to drop the weapon and he refused to do so. He then lunged at her and she fired two shots, one of which hit him in the chest.

As per protocol, she has been placed on paid leave.