BOSTON ( TheStreet) -- Boston Marathon bombing suspect Dzhokhar Tsarnaev was in serious condition at a hospital Saturday after police captured him Friday evening in the suburb of Watertown. The capture of the 19-year-old Chechen immigrant ends a tense manhunt that essentially closed down the greater Boston area on Friday and gripped the nation as Americans watched the drama unfold on television. Police said Friday that they found Tsarnaev hiding under a boat in a backyard following a tip from a Watertown resident. "A man had gone out of his house after being inside the house all day, abiding by our request to stay inside," Edward Davis, Boston's police commissioner, was quoted saying by The New York Times. "He walked outside and saw blood on a boat in the backyard. He then opened the tarp on the top of the boat, and he looked in and saw a man covered with blood. He retreated and called us." After law enforcement officers arrived at the scene, they exchanged gunfire with the suspect for about an hour until an FBI hostage rescue team was able to grab the suspect, Davis was also quoted saying. A federal law enforcement official said authorities would invoke the public safety exception and would not read Tsarnaev his Miranda rights, the Times also reported. In a statement posted at the White House Web site, President Obama praised the law-enforcement officials involved in the search for the suspects. "These men and women get up every day, they put on that uniform; they risk their lives to keep us safe -- and as this week showed, they don't always know what to expect," he said. President Obama also said he had instructed the FBI, Department of Homeland Security and the intelligence community to use all necessary resources to continue the investigation and find out what associations the suspects might have had. Law-enforcement authorities launched a massive manhunt for Tsarnaev Friday after the other suspect, his older brother Tamerlan, 26, was killed in a shootout with the police on Thursday. Authorities had asked residents of the Watertown, Newton, Waltham, Belmont, Cambridge and the Allston-Brighton neighborhoods to stay indoors Friday. Mass transit was also shut down, and businesses were asked to close for the day. The two brothers were the suspects in two explosions near the finish line of Monday's Boston Marathon that killed three people and injured more than 170. During the search for suspects, some Americans attempted to tap the power of the Internet to serve as citizen sleuths, although their efforts at times led to false leads and to public suspicion of innocent people, the AP reported.