Arsenal suffered a shock Carabao Cup fourth-round exit as they were dumped out by League Two side Fleetwood on penalties.After the match finished 1-1 at the end of normal time – which saw Max Dowman sent off for violent conduct – the Gunners lost the shootout 5-3 to give the fourth-tier outfit a famous win at Highbury.Arsenal’s players were left stunned at full-time as they suffered a shock upsetFleetwood fans spilled onto the pitch at full-time to celebrate a famous nightBruno Guimaraes missed the decisive penalty in the shootout, as he saw his effort saved by Jay Lynch in the Fleetwood goal.Conor Haughey then showed total composure to fire home the winning spot-kick, sending Illan Meslier the wrong way to send his side into the Carabao Cup quarter-finals.This sparked huge scenes of celebration, as Fleetwood fans piled onto the pitch to celebrate arguably their greatest-ever result.It sees Arsenal suffer a huge upset, with the Premier League champions succumbing to League Two‘s 18th-placed side in the first-ever meeting between the two clubs.Famous night for FleetwoodThe thrilling shootout came after the Gunners had initially avoided a giant-killing in normal time.Aaron Loupalo-Bi gave Fleetwood a shock lead on 21 minutes, outmuscling young defender Marli Salmon before slotting the ball past Meslier to spark pandemonium among the home fans.But the Gunners fought back, with Viktor Gyokeres bundling home a scrappy equaliser early into the second half.As the game headed towards extra time, the game then took a turn as teenage sensation Max Dowman was shown a straight red card.The 16-year-old was given his marching orders for his reaction to a heavy challenge from Fleetwood’s Harrison Neal.Dowman appeared to kick out at Neal prompting a straight red card, which drew a cold reaction from Arteta as he walked down the tunnel, before his side succumbed to an embarrassing exit on penalties.Aaron Lupalo-Bi fired Fleetwood in front against Mikel Arteta’s sideGettyMax Dowman was shown a first-ever senior red card in the huge upsetGettyConor Haughey was mobbed by fans after his penalty sent Fleetwood through to the Carabao Cup quarter-finalsGettyFor Gunners fans, this will bring back unwanted memories of their 2012 fourth round exit to Bradford, when they were also dumped out by League Two opposition on penalties.The result ends Arsenal’s hopes of League Cup glory for another year, having not tasted glory in the competition since 1993.It marks a stark turnaround from last year, where Arteta’s side made it all the way to the final before being beaten by Manchester City before ultimately pipping them to the Premier League title.As for Fleetwood, their historic result means are now set for their first-ever quarter-final appearance in the competition.The Cods will find out their quarter-final opponents when the draw takes place following the conclusion of Chelsea’s game against Liverpool on Wednesday.This is a developing story and is being updated.For the latest updates, breaking news alerts, and comprehensive analysis, refresh this page or follow our real-time news coverage by watching and listening to talkSPORT live.For broader context, explore related coverage on our homepage for the top trending stories. For the latest talkSPORT videos, download the app.talkSPORT cares about getting it right, not just getting it first and because this is a developing situation, details will change. We will be updating this page constantly with verified info, expert takes, and official statements.Stay tuned for further developments as this story continues to break.