The incident happened at 6.30pm last night, Thursday, January 18, after the victim and offender left an address in Marshall Wallis Road. An altercation took place at the junction with Bertram Street and Alice Street.
The victim, a 33-year-old man, was stabbed and suffered serious injuries.
Officers are carrying out inquiries to trace the offender, who is believed to be known to the victim, and are appealing for witnesses.
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Anyone with information is asked to contact Northumbria Police on 101 quoting reference 861 180118 or Crimestoppers anonymously on 0800 555 111.