Gunners scraped past Huddersfield in FA Cup
The Gunners were made to work hard for their place in the fifth round of the cup after going down to 10 men in the first half when Squillaci brought down Jack Hunt after the midfielder's mazy run.
They also lost Samir Nasri to a hamstring injury, which makes him a doubt for the Champions League tie against Barcelona.
And Wenger revealed he may have to look into bringing some of his loaned out youngsters back to the Emirates to boost his squad.
He told reporters: "I will look at the option of recalling some loan players.
"People like Jay Emmanuel-Thomas and Henri Lansbury could come back.
"Kyle Bartley is slightly different because he has never played in the Premier League so it could be difficult."
But Wenger insisted it was not likely he would sign anyone in the remaining few days of the transfer window, despite losing Nasri and Squillaci and having doubts about Denilson's fitness.
He added: "No, we will not sign anyone. I cannot say definitely because if someone knocks at my door tomorrow and says 'I want to play for you' and he is a good player I will sign him."
Arsenal were stretched to the limit against their League One opponents and for long periods look like they would lose their record of never being beaten by lower league opposition during Wenger's reign.
But thanks to a last-gasp Cesc Fabregas penalty the Gunners sealed their place in the fifth round, leaving Wenger's unbeaten cup record against lower league opponents intact.
Wenger said: "[The record] shows how seriously we take the cup, but usually I get questioned about that.
"It was tough, tough, tough today and typical of a cup game.
"We were below par today but Huddersfield are a good team, who were dangerous from crosses and set-pieces.
"At 1-1 and down to 10 men the record was seriously under threat but in the end we had the quality just to make the difference."
The Frenchman also questioned Mark Clattenburg's decision to send-off Squillaci but feared the worst at the time.
He added: "I think the sending off was a bit harsh. Was he the last man?
"There was a long way to the goal but it was a foul and I feared a red card and in the end it was given."