This video can not be played Premier League highlights: Manchester City 2-1 Arsenal. Mikel Arteta was doing the rounds consoling his devastated Arsenal players when a giant banner was unfurled in front of him at Etihad Stadium, emblazoned with the words: "Panic on the streets of London".

It dropped down from the stands seconds after Manchester City secured a thrilling 2-1 win against the Gunners that moves them to within three points of the long-time Premier League leaders, with a game in hand. Arteta may not be familiar with the work and words of the great Manchester band The Smiths - but it was sending a brutal message to Arsenal and their manager that all their fine work so far this season is now in danger of falling away in this unforgiving test of nerve.

Arsenal still narrowly have the superior goal difference (+37 to +36), but with Manchester City's game in hand at doomed Burnley, this could all change. Manchester City's win was by no means a decisive one in the title race, but it did not stop it feeling like a defining one. For context, Arsenal still lead the Premier League and have just reached the semi-final of the Champions League for the second successive season.

And for long periods of an enthralling encounter, Arsenal matched Manchester City every inch of the way before Erling Haaland once again made a crucial contribution with the winner. This was a resilient display to answer the allegations that Arsenal are "chokers" - but the bottom line is this was still a defeat that maintains Manchester City's momentum while increasing unease in north London.

If the home loss to Bournemouth resembled a failure of nerve, this defeat did not. Arsenal could easily have earned a crucial point and few would have questioned that outcome. But they did not. And at this stage of the season this is all that matters. Manchester City are in that ominously familiar position of coming from behind to wrestle control away from those in front of them, with Arsenal and Arteta feeling hot breath on their shoulders.

Arteta and his team must now fight familiar demons and scenarios to somehow end accusations that he and Arsenal might just be 'nearly men'. Are Man City now title favourites after their win over Arsenal? Man City beat Arsenal to cut the lead to three points.

The message sent by Manchester City's fans to Arsenal after their vital victory at Etihad Stadium. As City close in, the prospect of Arteta's Arsenal finishing second in the Premier League for a fourth successive season is an increasingly painful possibility.

Arsenal still have the opportunity for glory this season, domestically and in Europe's biggest competition, but they have now reached the point where another campaign that fails to end a trophy drought stretching back to 2020 will leave serious questions about Arteta and his players. The Gunners simply must win a trophy this season to deliver the answer.

To let it slip and finish empty-handed would be cruel, but this is the environment they are operating in. Arteta and Arsenal must dismiss the growing noise, the noise around them now and the noise that will accompany them if they fall short.

This is not to suggest questions should be asked about Arteta's future - absolutely not - and he could still win a Premier League and Champions League, but if it does not work out as he hopes, he must go back to the drawing board once more to find a way to win.

Former Liverpool and England midfield man Danny Murphy told BBC Sport: "I understand success is based on trophies, but ultimately let's say Arteta lost the Premier League on goal difference and lost the Champions League final, you have to give perspective. "He's there or thereabouts. They are getting closer and closer. I know it's been a couple of years of finishing second. The squad is as good as it's ever been. There is talk if he doesn't win anything he should go, I think that's crazy."

Arteta laughed at suggestions he will now have to pick his players up, insisting if he had to do that in their current situation he "should be at home". He said: "I'm very upset with the result because of the way we played. It's a new league now and we have three points advantage with five games to play. Everything is still to play for."

Arsenal manager Mikel Arteta slumps to his knees during the Premier League defeat at Manchester City. Arteta added: "I am very disappointed not to get a result in the game and in the manner that it happened, but not the performance. The players felt we lost an opportunity but we have the advantage in the league in the next five games, so let's go."

Arsenal did miss opportunities, especially in the closing seconds of a nerve-shredding seven minutes of stoppage time when Kai Havertz headed over an open goal. It was a moment of high drama, a mixture of relief on City's side and agony for the Gunners and the travelling followers. Arteta's body language said it all as he slumped to the floor.

Arsenal's luck deserted them when Eberechi Eze's second-half shot hit the inside of a post and somehow stayed out, Gabriel suffering similar misfortune later with a header. Arsenal have now lost back-to-back Premier League games for the first time since December 2023, ending a five-game unbeaten streak in the league against Manchester City in the process - winning two and drawing three.

And they have lost four of their past six matches in all competitions, winning one and drawing one, starting with the Carabao Cup final against Manchester City in March. They lost just three of their first 49 matches of the season, winning 37 and drawing nine.

Manchester City, in contrast, are unbeaten in their past 10 Premier League games, winning seven and drawing three - their longest run without a league defeat of the season. Pep Guardiola's side have a history of timing their late runs perfectly over this course and distance. This will only increase concerns for Arsenal and their supporters.

Arteta has, with justification, been accused of conservatism in his approach this season, picking a positive line-up with Eze and Martin Odegaard. It was, though, hardly a vote of confidence to exclude £64m summer signing Viktor Gyokeres, the striker meant to make the difference, for Arsenal's biggest game of the season so far.

Panic on the streets of London? Not yet. Arsenal's nerves may just be jangling, though, as the chance to get the result that would give them a crucial push towards a first Premier League title since the 'Invincibles' of 22 years ago agonisingly escaped.

Arsenal's Kai Havertz scored but missed a great stoppage time chance to earn a vital point at Manchester City.