Liverpool reached the Carabao Cup quarter-finals in thrilling style as their incredible 5-5 draw against Arsenal was followed by a 5-4 penalty shoot-out triumph, while Manchester United won 2-1 at Chelsea on Wednesday.

Both Liverpool manager Jurgen Klopp and Arsenal boss Unai Emery made 11 changes for the fourth round tie, but the understudies served up one of the most entertaining games of the season at Anfield as the Gunners squandered multiple leads.

In the shoot-out, Dani Ceballos' penalty was saved by 20-year-old Irish keeper Caoimhin Kelleher before Liverpool-born 18-year-old Curtis Jones converted the winning kick.

Liverpool have won the League Cup a record eight times and they remain on course to lift the trophy for the first time since 2012.

"We were too open at times. We can talk about tactics but who cares on a night like this? I hoped for the boys they would have a game to remember," Klopp said.

"It's like a dream for them to play for the first time at Anfield. All our goals were wonderful."

After Granit Xhaka's astonishing outburst at Arsenal fans during Sunday's traumatic Premier League draw with Crystal Palace, this was another body blow for Arsenal, who lost despite leading 3-1, 4-2 and then 5-4 with seconds to go.

"A crazy match. At the end we were winning until the last action. Penalties are 50-50 and we lost. We are sad but we deserve more," Emery said.

With an average age of 23 years and 122 days, it was Liverpool's youngest starting eleven in any competition since January 2017 as teenagers Neco Williams, Harvey Elliott, Rhian Brewster and Sepp Van Den Berg all featured.

It was only the second time Liverpool have conceded five goals in a home match in the last 66 years.

At Stamford Bridge, Ole Gunnar Solskjaer was rewarded for naming a strong team as United beat Chelsea to continue their recent revival.

Solskjaer made just four changes, while Chelsea boss Frank Lampard made six and it was five-time League Cup winners United who came out on top as they enjoyed a third successive victory.

After Marcus Rashford and Anthony Martial both missed penalties in United's win at Norwich on Sunday, Solskjaer's team went in front thanks to a successful spot-kick in the 26th minute at the Bridge.

Daniel James was fouled by Marcos Alonso and Rashford stepped up to send Willy Caballero the wrong way from the spot for his sixth goal of the season.

Michy Batshuayi equalized from long-range in the 61st minute, but Rashford's superb 30-yard free-kick won it for United in the 73rd minute.

Aston Villa moved into the last eight with a 2-1 win over local rivals Wolves.

(With input from AFP)