The incident happened at about 9:20 p.m. at the 2nd Avenue F train station on the Lower East Side.
A 27-year-old man suffered a laceration to the left side of his head, and a 24-year-old man suffered a puncture wound to his back.
Both were taken to Bellevue Hospital and are expected to survive.
Police are looking for a suspect who fled the scene.
Police sources said the incident apparently stemmed from a fight between two groups of people.
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