Skrtel levels with 97th-minute header
Borini sent off for two late bookings
Arsenal score first two shots on target
BBC Radio 5 live's Mark Lawrenson at Anfield
"There is a complete difference to Liverpool when they play with that urgency and push Arsenal back. With Raheem Sterling and Philippe Coutinho running at Arsenal they looked really dangerous."
Mohammad Rizwan: Dropping Simon Mignolet has back fired big time and Brendan Rogers will probably pay with his job. Brad Jones is rubbish!
Thomas Rimer: Hope if Rodgers gets sacked, Liverpool doesn't make the mistake of hiring Andre Villas-Boas. Third time in England will not be the charm.
Ian Rogers: It's amazing how many would-be managers there are in the world when a team is not doing well.
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Fabio Borini has tried since coming on and his passion boils over as he is booked for dissent.
Arsenal introduce Joel Campbell for Alex Oxlade-Chamberlain to slow the clock and we tick into nine minutes of stoppage time following Martin Skrtel's injury earlier.
Yes... nine minutes.
Here comes the pressure and boy do Liverpool need a reward. Again it's Fabio Borini but his shot is parried by Wojciech Szczesny at his near post.
Fabio Borini, six yards, centre of the goal, glancing header, tipped over the bar.
Raheem Sterling pulled out a lovely cross there and Borini's header was decent. A yard either side of the keeper and it would have caused major problems.
We have five minutes left but don't forget some sizeable injury time given Martin Skrtel's injury in this half. I'd guess six minutes minimum.
BBC Radio 5 live's Mark Lawrenson at Anfield
Image source, Getty Images"It is impossible to say what is going on at the back for Liverpool now. It looks like it could be just two. I think they've basically just got Martin Skrtel and Mamadou Sakho there and telling Jordan Henderson to go man-to-man with Alexis Sanchez."
The efforts of Philippe Coutinho can't be questioned today. His aggressive forward run is picked out and though he gets space near the dead-ball line, his shot is side netting only.
Central defender Kolo Toure makes way and striker Rickie Lambert comes onto the field. Liverpool's players look confused, this is a new formation for the remaining 10 minutes or so.
It looks like Jordan Henderson will be right-back in a 4-4-2 system.
Arsene Wenger replies by bringing on Francis Coquelin for Olivier Giroud. That should firm things up. Coquelin was on loan at Charlton 10 days ago. Get out there and enjoy it son.
BBC Sport chief football writer Phil McNulty at Anfield
"Liverpool do not deserve to be behind but there is now the added danger that in their desire to claim an equaliser they leave spaces at the back - and this is a defence that is vulnerable at the best of times. Brendan Rodgers's side still showing plenty of drive, however, and we are also looking at a lot of stoppage time following Martin Skrtel's injury."
This really has been an odd game. One side certainly not at the races but winning, the other so desperate for a win but missing chances galore to get one.
Liverpool have now had 18 shots, with just five on target.
Still they probe and Rickie Lambert is getting stripped off for a change which will offer a direct alternative.
Image source, PAJohn Parsons: More possession and chances but still losing. Closer to bottom four than top four!!!! Not good enough from Brendan Rodgers or the team.
Ash: Given the lack of fit strikers and bedding players, I can stand not scoring goals but I wish Liverpool could keep clean sheets.
Ally Finlay: Seen better football in the Scottish Championship. Liverpool v Arsenal both mid-table at best.
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A solid offering by Lazar Markovic, completing 81% of passes and seeing one of his two shots in the game hit the target.
Often peripheral this season, his departure is probably not surprising but Lucas almost becomes a surprise goal scorer with a volleyed effort from 20 yards which misses by inches. Great strike, not great enough.
Image source, PAArsenal's last six attempts on target have found the net. Now is that good finishing or abysmal goalkeeping by both Brad Jones here and Newcastle's Jak Alnwick in their last fixture?
Fabio Borini is readied and will come on shortly. Frozen out, back in, frozen out, back in, who knows what his future is, probably not even he. Lazar Markovic is withdrawn.
Arsenal, as perhaps we have come to expect, are not going to knuckle down with bodies behind the ball here.
With space aplenty Liverpool attack through Steven Gerrard who shoots straight at Wojciech Szczesny and the Arsenal goalkeeper's crazy decision to not slow the play down sees his side lose possession again. Gerrard pings another one... saved.
Aidan Williams: That goal was wonderful to watch, and that's as someone favouring the other team
James Butler: Got to love Giroud. We need to maintain composure now, long way to go still. Surviving that first half was crucial
Stacy Phillips: Typical Liverpool to give up poor goals when playing well. Let's see if it'll be typical Arsenal to give up the lead now
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Image source, AFPLiverpool respond admirably with efforts from Philippe Coutinho and Raheem Sterling but neither find the target and the Reds are now facing the possibility of Christmas in the bottom half of the table.
Pete in Dorset: When is Brendan Rogers going to realise that he hasn't a clue where defensive coaching is concerned - if he wants to keep his job he needs some help from a decent coach. Phil Thompson where are you? your club needs you!
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BBC Sport chief football writer Phil McNulty at Anfield
"Arsenal are performing a real smash and grab raid here. Liverpool have been the better side but Arsenal have taken the two chances they have created. Arsene Wenger pumped his fists in delight - his side have got something to get their teeth into now."