Multiple police cars responded to reports of a man with a weapon by Cheals Roundabout in Horsham Road, Crawley, at 7.40pm.
Two people were found with injuries 'consistent with being stabbed' and were later take to hospital for treatment.
Officers used a Taser to detain a man and officers confirmed a weapon was seized at the scene.
Investigations into the incident are continuing and officers ask that anyone with any information to contact Sussex Police on 101 quoting Operation Slope.
In a statement, a spokesperson for Sussex Police said: "Police were called around 7.40pm on Friday (October 22) to reports of a man in possession of a weapon.
"As officers attended the scene at Horsham Road, Crawley, two people suffered injuries consistent with being stabbed by a bladed article. Both victims have been taken to hospital for treatment.
"A man was safely detained with the use of a Taser, and a weapon was seized. He has been arrested on suspicion of attempted murder and taken into custody.
"There will be a continued police presence in the area while enquiries are ongoing. Anyone who saw what happened or who has any other information is asked to contact police online or by calling 101 quoting Operation Slope."