A 17-year-old boy is dead after he was stabbed in Oshawa this afternoon.

Police in Durham Region say the incident took place in a commercial plaza near Taunton and Harmony roads shortly before 3 p.m.

Witnesses at the scene told officers a verbal altercation led to the fatal stabbing.

The victim was found without vital signs at the scene and rushed to hospital where he later died.

Police say a 16-year-old boy is in custody in connection with the incident and that charges against him are "pending." They say they're not looking for any other suspects.

Anyone with information is being asked to call Durham Regional Police or Crime Stoppers.