Smoke could be seen billowing around Scotiabank Plaza at 20 King St. W. late this afternoon and many reported hearing multiple bangs at around 5 p.m.

According to CBC News, the explosion happened in a hydro vault and is being investigated as a hydro issue. Thankfully, no injuries have been reported.

.@CBCNews I swear in this one.
This was 20 seconds after first explosion. I had just walked across those grates. pic.twitter.com/MoJj4Aa10w

— mike amsterdam (@plutoisnumber9) May 1, 2017

King Street is shut down between Bay and Yonge, parts of Front and Adelaide streets are also closed.

Police have requested King Station to be closed. Subway trains will bypass the station between Union and Queen Stns.

— Brad Ross (@bradTTC) May 1, 2017

Subway trains are bypassing King station and the 504 and 514 streetcars are running on Queen between Spadina and Church.

Purpose of station closure is to limit pedestrian traffic in the area. Use Queen Stn for King and Cherry streetcar service

— Brad Ross (@bradTTC) May 1, 2017

Those in the area captured some pretty dramatic footage of this ongoing incident, so here's what the Financial District looks like today at rush hour.