Arsenal not after Sevilla's Grzegorz Krychowiak - Arsene Wenger
Wenger said he wanted to keep things in perspective ahead of the trip to Crystal Palace on Sunday, adding that the setback would not change his transfer policy.
"We are working very hard. We are focused to strengthen our squad. The availability is not big," he said.
"When you lose a game, you get that kind of demand [to sign players]. Could we have won that game without any additions? I say yes."
When asked directly if he was interested in signing Krychowiak, a reported target for the Gunners, Wenger responded: "No."
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The Arsenal manager added: "Always people think the solution is from the outside, but I say let's look inside and produce the performances. It is more intelligent than expecting it to happen from outside."
Wenger said the situation was "the same" as it had been before the West Ham game, saying: "If we find someone to strengthen our squad, we will do it -- but it is not easy."
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He added that everyone at the Emirates Stadium had been "disappointed with the result and our performance" but added: "A strong season is down to how you respond.
"A defeat like we had always hurts, but we should to go overboard. It should not take away from the potential we have.
"What we have learned is we made two mistakes and we paid for that. We have 37 games to go, and we have to respond. I believe we have a fantastic mentality and a united group."
The manager confirmed that Chile international Alexis Sanchez was ready to start his first game of the season at Palace, with defender Hector Bellerin also fit to return.