UPDATE - 4:17am
Boston police are now saying that the Marathon bomber in black hat is dead as a result of this morning's events.

UPDATE - 3:54am

CNN is now reporting that police in Watertown are operating under the assumption that the suspects are linked to the Boston Marathon bombing.

The perimeter is on lockdown, and the police will wait until daylight to continue the manhunt. All residents in the area are being strongly advised to not answer their door under any circumstances unless it is a uniformed officer.

UPDATE - 3:31am
The FBI is in the process of determining whether or not the first suspect is in fact connected to the MIT shooting and/or the Boston Marathon bombings.

Reddit user Brutal_Sandwich has put together a map of the events that have taken place this morning.

View Shootings 4/19 MIT && Carjacking, possibly unrelated in a larger map

UPDATE - 2:35am
The Boston Globe is now reporting,

One marathon suspect has been captured, according to an official with knowledge of the investigation.

Another remains on the loose in Watertown after a firefight with police. Authorities have established a 20-block perimeter as they search for him.

Chaos struck just outside of Boston early Friday morning.

From the Associated Press,

WATERTOWN, Mass. (AP) — Police have converged on a neighborhood outside Boston where there were reports of explosives being detonated and police are telling reporters to turn off their cell phones.

Dozens of officers and National Guard members are in Watertown, where television outlets report that gunfire and explosions have been heard. A helicopter is circling overhead.

Authorities early Friday were calling for somebody to get on the ground and put their hands up and a loud thud was heard after someone shouted "fire in the hole."

Reporters are being told to move away from the scene. A police officer told a reporter: "If you want to live, turn off your cell phone."

Twitter user: Jim Gardner ‏- @Jim_Gardner

A Watertown woman took a video of the shootout happening on her street. You can watch it below.
This video contains graphic content.

One suspect is confirmed to be in custody while one remains at large.

The Townsquare News Network will continue to update you on this story as more details unfold.