Paris Saint-Germain pushed Manchester City to the brink of Champions League elimination after coming from two goals down to win 4-2, while Arsenal all but secured their place in the last 16.

Holders Real Madrid remain in contention for a top-eight spot after sweeping aside Red Bull Salzburg 5-1, but Bayern Munich's hopes of automatic qualification took a hit with a 3-0 defeat by Feyenoord.

Pep Guardiola's City were left stunned as they blew a two-goal lead after Jack Grealish and Erling Haaland struck early in the second half in pouring rain at the Parc des Princes.

Substitute Ousmane Dembele soon halved the deficit for PSG and Bradley Barcola equalised on the hour after Desire Doue's effort came back off the crossbar.

Joao Neves' diving header put PSG on top before Gonçalo Ramos added a late fourth as the French champions climbed from 26th in the table to 22nd and bumped City out of the qualifying spots for the knockout phase.

"I don't know how we did it, to be honest," PSG coach Luis Enrique said after the win.

"We started the second half in the worst way possible by conceding two goals," he added. "It was tricky at that point, but at the same time this team believes in itself."

City, the European champions in 2023, are down in 25th having failed to win any of their last four games in the competition and must beat Club Brugge at home next week to salvage their campaign.

"I accept the defeat because the best team won," said Guardiola. "It's in our hands, we have to win the last game. Hopefully we can qualify. If it doesn't happen, we don't deserve it."

Meanwhile, holders Real Madrid got back on track in Europe with a 5-1 victory over RB Salzburg to ensure they will not be eliminated at the first hurdle.

Vinicius Junior and Rodrygo Goes struck twice each with French superstar Kylian Mbappé also on target in a ruthless display at the Santiago Bernabeu.

Carlo Ancelotti's side lost three of their first six games in a worrying start to the competition and will likely have to compete in the extra play-off round in February which is part of the competition's new format, unless they can scrape a top-eight spot.

Victory left Los Blancos 16th, a point behind Bayer Leverkusen in eighth, which is the final spot for direct qualification to the last 16.

Brazilian winger Rodrygo struck twice in the first half to help Madrid take control, with Mbappé netting soon after the break and Vinicius grabbing a brace of his own to bring up a century of goals for the club.

"I'm very happy after reaching 100 goals with this shirt," Vinicius told Movistar, noting he was close to Brazilian compatriot Ronaldo Nazario's tally of 104.

"I hope to be able to continue like this and score a lot of goals, and mark an era in this team – that's my dream," he added.

Defeats by Liverpool, AC Milan and Lille put Madrid under pressure ahead of their final two group matches and their Austrian visitors started with vim, pinning back Los Blancos.

Madrid created little of note until Rodrygo's opener after 23 minutes changed the dynamic of the game.

The winger, in sensational form in recent weeks with eight goals in his last nine games across all competitions, finished neatly after Jude Bellingham nudged a cross into his path at the back post.

His second goal was even better, set up by Bellingham with a brilliant backheel, which Rodrygo finished first time with a crisp curling strike.

"It's so easy to play with Jude, he makes everything easy, the movements he makes, his second assist was very nice and I love playing with him," said Rodrygo.

Elsewhere, Arsenal moved within touching distance of the last 16 after Declan Rice's goal in just 106 seconds inspired their 3-0 win against Dinamo Zagreb.

Arsenal have won five of their seven league phase matches, losing just once, and are almost certain to finish in the top eight, which secures automatic qualification for the last 16.

The north Londoners, who have never won the Champions League, travel to Girona for their last match in the group phase. (AFP)