Shepard Smith was reporting an update right now.

Confirmed 15 shot, 5 dead, one a child.

And astonishingly, Rep. Giffords was misreported dead. While severely wounded, she is for the moment still alive.

The gunman is described as walking up to individuals one at a time and shooting them in the head. And he was stopped by another person in the crowd who was armed also, who shot the shooter, preventing him from killing even more people.