Arsenal missed out on their chance to get back into the Premier League's top four after three first-half goals from Wolverhampton put them on the losing end of a 3-1 match at Molineux on Wednesday night.
Arsenal, fresh off a lacklustre loss to Crystal Palace on Sunday, had the better of the opening 25 minutes, but found themselves down 1-0 in the 28th when Ruben Neves smashed home a free kick from 20 yards after a Nacho Monreal foul on Jonny.
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The hosts would go three up before half-time to further compound Arsenal's woe as Matthew Doherty headed an inch-perfect Jonny cross past Bernd Leno and Diogo Jota finished off a hard-charging run into the visitors' penalty area with a low line drive that the Gunners keeper should have handled.
Arsenal were unable to find their first and manager Unai Emery brought on Sead Kolasinac in the 58th minute and Edward Nketiah to try to find a way through a resolute Wolves defence.
The Gunners finally scored just before 80 minutes when Sokratis Papastathopoulos out-jumped his marker and headed a corner kick home to cut Wolves lead to 3-1, but it was too little too late.
The result, Wolves first win home win against Arsenal in 41 years, leaves the Gunners in fifth place on 66 points, trailing fourth-place Chelsea on 67 points and ahead of sixth-place Manchester United.
Emery remained confident they can finish in the top four.
"We can be frustrated but the Premier League is about being consistent over 38 matches," the Spaniard said.
"Today we're disappointed but we need to remember how we were three months ago.
"We can be optimistic and recover for the top four."
Wolves have now picked up 16 points in their matches against the current top six this season with wins over Tottenham, Chelsea, Manchester United and now Arsenal.