A young man was stabbed and at least 10 others were injured by a lone attacker in the city center.
A 20-year-old man is in stable condition in hospital after being stabbed in downtown Bedworth, north of Coventry, on Saturday morning.
Warwickshire police say a 33-year-old man has been arrested.
Forces believe the Bedworthy suspect was walking on Coventry Road and Gilbert Close, where he attacked at least 10 people shortly before 8 p.m.
Police said the victims, who have so far been identified as minor injuries, have assisted officials in the investigation.
Det Ser Rich Simpkins said: “It was a nasty incident that left a number of people injured, and I know it’s going to be a big concern for the community.
“The public can expect to see an increased police presence in and around Bedworth City Center to provide reassurance as our officers continue to investigate.
“We have a detained man and we are not looking for more suspects in connection with this incident.
“We know that there were a number of people in the area at the time of the incident and that there may be more members of the public who may have been approached or attacked by the suspect.
“If the suspect approached you or you may have witnessed the incident, I would urge you to contact us.
“Any information you may have could really help our investigation.”
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