Saints were denied a first Premier League win since September as Alexandre Lacazette scored five minutes into stoppage time to earn Arsenal a 2-2 draw at the Emirates Stadium.
Ralph Hasenhuttl’s side deserved the three points having been the better team for the majority of the match and had so many chances to have won comfortably.
Danny Ings kept his impressive scoring run going to give Saints a first half lead before Lacazette equalised for the first time against the run of play.
James Ward-Prowse saw a second half penalty saved but scored from the rebound which looked like giving Saints a much needed three points.
However, Lacazette struck again deep into seven minutes of injury time to leave Saints gutted.
Saints started the game superbly and put so much pressure on a poor looking Arsenal side.
They threatened the Gunners in the opening seconds of the game as Kieran Tierney failed to bring the ball under control and Stuart Armstrong stole it. The midfielder took on a shot from just outside the area which whistled just wide of the far post.
There was no let off though on eight minutes as Saints took the lead.
Danny Ings had been inexplicably left in space for some time but when Saints won a free kick Ryan Bertrand took it very quickly and slid him an easy pass.
Ings simply turned and sauntered into the area before finishing via the inside of the near post, though replays suggested Saints had got a bit of luck as the ball was moving when Bertrand took the free kick.
Ings had an opportunity to add another six minutes later as Michael Obafemi picked him out with a cut back. It wasn’t an easy half volley from the edge of the box and Ings blazed it over the bar.
Saints’ domination continued and James Ward-Prowse was the next to have a go but his shot from 20 yards was saved by Bernd Leno.
There was frustration for Saints as Arsenal equalised with virtually their first attack of the game on 18 minutes.
Pierre-Emerick Aubameyang was able to bring down a cross from the left in the area. His half-volleyed shot was blocked by Bertrand, but the rebound fell to Alexandre Lacazette who produced a cool finish for 1-1.
The action continued with Pierre-Emile Hojbjerg winning a far post header from a corner but hitting the side netting.
The match calmed down a little after that point and at the break it was honours even but frustration for Saints who had failed to capitalise after being the better team for much of the half.
There was a fast start to the second half and it was Saints who came closest early on as Leno dived to his left to prevent an own goal after Lucas Torreira had intercepted Obafemi.
Saints survived a VAR check for a possible penalty after the ball struck Armstrong’s arm in the box but Sokartis was only a yard away when he struck his shot into the midfielder and it was clearly the correct call.
Alex McCarthy made a fantastic save to keep the scores level on 51 minutes as the ball broke to Aubameyang. He opened up and his body and shot across goal but McCarthy kept it out with his outstretched left leg.
Nathan Redmond tried to make something happen at the other end and took advantage of Arsenal backing off to hit a stinging shot from 25 yards that Leno turned over.
The see-saw nature of the game continued as Arsenal were denied by the crossbar as half time sub Nicolas Pepe hit an acrobatic shot into the ground and saw it bounce up, hit the woodwork and to safety.
Saints made a total mess of a golden opportunity to retake the lead.
Sokratis dwelt on the ball inside his own area and was dispossessed by Cedric who just had to make a simple slide rule pass across the six yard box to bypass the keeper and leave the totally unmarked Obafemi a tap-in.
However, he hit it far too hard and the ball flashed past Obafemi and the chance was gone.
The reprieve was temporary for Arsenal.
There was drama as referee Stuart Atwell awarded a penalty for a tug on Ings by Tierney. VAR checked for a possible offside but the award stood.
Ward-Prowse hit a weak penalty that was saved by Leno diving to his left but the rebound fell went back across goal to the midfielder who had the simple task of sliding it into an empty net from four yards out.
Hasenhuttl brought on Shane Long and Moussa Djenepo for Ings and Obafemi as Saints sought fresh legs to secure the win.
Armstrong whistled a shot just wide as Saints continued to produce a threat before Mesut Ozil forced McCarthy to turn over the bar and Joe Willock headed an effort from a corner straight at the keeper.
Redmond unselfishly laid the ball off for Djenepo when he maybe should have had a shot and it gave Arsenal time to get cover in place with Willock back on the line to prevent a goal.
There had been plenty of stoppages and so Saints had to face seven minutes of injury time to secure victory.
Djenepo should have sealed the win when late sub Sofiane Boufal presented him with another amazing chance but he missed the target.
Saints were left heartbroken as Arsenal equalised at the end of injury time.
Gabriel Martinelli got the ball across and McCarthy parried to Lacazette who controlled and fired home to leave Saints on the floor with heads in hands at the final whistle.
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