The Gunners blew a 2-0 lead in the final ten minutes as Wolves blew the title race wide open.
At the final whistle, Brazil striker Gabriel Jesus shoved his Wolves marker, Yerson Mosquera, who theatrically fell to the ground.
Gabriel Jesus' push sparked a melee between the two sets of players, with staff also getting involved.
Arsenal defender Riccardo Calafiori and Wolves forward Mateus Mane also shoved eachother and exchanged angry words, while Wolves striker Adam Armstrong ran down Gabriel Jesus to give him both barrels.
For many, the post-match meltdown was a sure sign, along with the result, that the pressure of the title race is now weighing on Arsenal's players.
Gunners manager Mikel Arteta said afterwards: "I think any question, any criticism, any opinion, you have to take it on the chin today. I think that's it. Any hit, any bullet, take it, because we didn't perform at the level that is required. Anything that anybody says can be right because we didn't do what we had to do.
"The way to do it is on that pitch on Sunday, in a great opportunity that we have. We've always done it, but you're as strong if you show it the next time you do it. To talk and say it here, it's simple, and we have to do it on the pitch."