Henrikh Mkhitaryan climbed off the bench to rescue a point for Arsenal an continue their 16-match unbeaten run.
Ivan Cavaleiro fired home the opening goal after just 13 minutes as his side ended a run of three straight defeats, and they could have won it after Morgan Gibbs-White hit the bar with seconds left.
Arsenal largely struggled for fluency but stay in fifth and are eight points behind leaders Manchester City in the Premier League.
MATCH FACTS AND STATS
ARSENAL (4-2-3-1): Leno 8; Bellerin 7, Mustafi 6.5, Holding 6.5, Kolasinac 4 (Mkhitaryan 75); Torreira 6, Xhaka 5; Iwobi 5 (Guendouz 46, 6.5), Ozil 5 (Ramsey 75), Aubameyang 6; Lacazette 6.
Subs not used: Cech, Sokratis, Maitland-Niles, Nketiah.
Booked: Ozil, Bellerin
Goals: Mkhitaryan 86
WOLVES (3-4-3): Partricio 6; Bennett 7.5, Coady 8.5, Boly 7.5; Doherty 6.5, Neves 7.5, Moutinho 7, Castro 7; Costa 7.5 (Traore 75), Jimenez 7.5 (Gibbs-White 85), Cavaleiro 7.5 (Jota 61).
Subs not used: Ruddy, Saiss, Vinagre, Dendoncker, Traore.
Booked: Doherty, Costa Espirito
Referee: Stuart Atwell – 6.5
But in the end it’s a point apiece. In the Premier League, that is simply all that matters.
For Nuno Espirito Santo, his team’s impressive performance adds further substance to the view that Wolves will stay in the division.
In contrast, it’s four draws from the last five games. Of course, it’s far from an unravelling – but after their breathtaking 11 match winning sequence Unai Emery is has much to ponder going into the international break.
Wolves’ promising start to the season has stuttered in recent weeks; three defeats in succession dampening that early optimism.