UPDATE: One Dead, One Injured in Newport Shooting and Stabbing [VIDEO]

One woman is dead and another in the hospital after a shooting and stabbing at 11 Memorial Boulevard in Newport, home to Franklin & Co. Interiors.

Police said the incident was an act of assault and is currently under investigation, Newport City Manager Jane Howington said.

Lt. William Fitzgerald said the incident was between two women who knew each other. The situation is contained, he said.

Howington said there was no cause for concern of more shootings. 

For all the latest, sign up for Newport Patch breaking news alerts and be sure to follow us on Facebook and Twitter.

issued an alert to students at 10:46 a.m. today saying Newport Police has reported a shooting and stabbing on Memorial Boulevard.

“NPD report shooting and stabbing on Memorial Blvd. Stay on campus and away from Memorial Blvd until further notice,” the text alert read.

Gary Wiggins, a co-owner of the Canfield House, said he heard commotion and one woman screaming, then saw a woman on the sidewalk bleeding and holding her hand.

Right now there are about five police cars in the area. Both Memorial Boulevard and Bellevue Avenue are open for traffic.

Police are expected to release more details shortly. Stay tuned to Patch for updates.