The stop took place around midnight at the intersection of Pacific Avenue and 18th Street, according to Los Angeles police.
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"An individual in that vehicle exited and produced a firearm, which resulted in an officer-involved shooting," LAPD Capt. Ben Fernandes told reporters at the scene.
The wounded man was taken to a hospital for treatment, the LAPD said. He was listed in stable condition.
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Pacific Avenue between 16th and 19th streets will be closed for several hours for the OIS investigation, the LAPD said.