Michael Owen aimed a punch at Mikel Arteta after reacting badly to a challenge from the Spaniard towards the end, which came after a strong Ryan Shawcross challenge on Laurent Koscielny.
The latter resulted in a booking for the Stoke captain, who was booed throughout due to the tackle that broke Aaron Ramsey's leg three years ago.
"It looked to me [like it should have been a red card] but I have to look at it again as I am maybe not completely objective when it comes to Ryan Shawcross," Wenger said.
"That is why I will be a bit cautious with my statement but I have not seen the Michael Owen incident."
As the former England striker was not booked by referee Chris Foy, he could now face retrospective action from the Football Association - something Stoke manager Tony Pulis was not keen to dwell on.
"I think Arteta's challenge was a poor challenge, but Michael should not do that," he said.
"That should be left to the referee and I think if you look at Glenn Whelan's challenge on Santi Cazorla, it is a really good challenge and plays the ball.
"But not only has Chris given a free-kick but he has also booked Glenn, which was disappointing.
"Arsenal are a great side with great players - they brought Cazorla and Podolski on. They are a fabulous team with fabulous players."
Pushed further on the Owen incident, Pulis added: "We'll see what they say. Obviously I am going to be biased as it is my football team.
"I have seen the challenge, I think it poor and should be a free-kick.
"If Michael has done what he has done and they look at it, then they will deal with it."