It looked like it was going to be an embarrassing night for the Cottagers, but they pulled one back shortly after through the ever reliable Dimitar Berbatov, and the momentum switched completely as substitute Alex Kacaniklic made it 2-2 just before the half-time whistle.
The visitors stunned Arsene Wenger’s side when they went into the lead for the first time when Berbatov scored his second, coolly converting a spot kick after Bryan Ruiz was brought down by Arteta, but Fulham’s delight was erased only two minutes later when Giroud got his second of the game.
Fulham did well to bring down the tempo in the closing stages to try and seal the draw, but Arsenal continued to pressure the Fulham back-four, and the visitor’s efforts seemed to be in vain when referee Phil Dowd awarded Arsenal a penalty after a cruel hand-ball decision against Sascha Riether.
But Arteta’s penalty was well saved by Schwarzer, who threw himself down to his right to make the one-handed save and end the thrilling contest.
Elsewhere QPR continued their dismal run to 11 games without a win with a 1-0 defeat to Stoke at the Britannia Stadium.
Stoke midfielder Charlie Adam’s second-half drive was enough to separate the teams, though Rangers did have a number of decent opportunities to equalise through Adel Taarabt and former Real Madrid man Esteban Granero.
But Stoke yet again displayed their trademark resilience and held on to the one-goal lead to heap further pressure on QPR manager Mark Hughes.
Everton move up to the fourth after coming from behind to win 2-1 against Sunderland at Goodison Park.
Adam Johnson scored his first Sunderland goal on the stroke of half-time to put the visitors ahead, ending a run of 444 minutes of league play without a goal from a Sunderland player.
But the Black Cats surrendered the lead and the game in quick succession, first through Marouane Fellaini, who managed to turn his man on the edge of the box and smash a terrific strike into the top corner.
It was the Toffees’ star-man Nikica Jelavic who won it for the home team three minutes later, but it was Fellaini’s cheeky backheeled pass that made it. The Belgian’s flick went through John O’Shea’s legs and slipped straight to Jelavic who sealed the comeback with a fine finish.
West Brom climed to ninth in the league after closing out a 2-1 win at Wigan.
Wigan’s ever-impressive summer signing Arouna Kone pulled one back for the home side, with a minute to play of the first half, but it couldn’t inspire his team to push for the win as West Brom held on for the three points.
Southampton stay in the relegation places after a defensive howler gifted Swansea an equalising goal in a 1-1 draw at St Mary’s.
Morgan Schneiderlin put Southampton ahead after a great bit of skill inside the box from Ricky Lambert’s knock-down, but former Saints academy graduate Nathan Dyer bagged the equaliser, capitalising on poor control on the edge of the box by Maya Yoshida to smash his low shot against the post and in.
Reading are also still looking for their first Premier league win of the season as they were held to a goalless draw by Norwich at the Madejski Stadium.
Reading were on top for most of the game and would have deserved the win, but Garath Mccleary’s first-half effort was well saved by Norwich keeper John Ruddy while Jimmy Kebe’s cross clattered the crossbar in what was a much more promising second 45 minutes.
But three points continue to elude the newly promoted side as they just could find their break in front of goal as Norwich held well.