IRVING, Texas — Suddenly, 11-1 looks like it can very easily turn into 11-5.

The New York Giants' stunning run through the NFL, which featured a dazzling display of big-play proficiency and plucky resourcefulness, is now threatened by a stunning late-season turn of events.

A second straight loss Sunday night — this one to the team they beat in last season's divisional playoffs — and two daunting opponents in the final two weeks leaves the Giants in a precarious position as they head into the playoffs.

Throw in a slew of new injuries, and things look even more uncertain.

Already without Brandon Jacobs, who is suffering from an injury to the posterior cruciate ligament in his left knee, the Giants saw Kareem McKenzie (back), Rich Seubert (illness), Kenny Phillips (possible concussion), and Santana Moss (calf) all leave Sunday night's game early. And Justin Tuck was slowed by a nagging foot problem and a shin injury he suffered Sunday night, courtesy of a swift kick from a Cowboys' opponent.

Just like the Giants got a swift kick from a Cowboys team that spent the week cleaning up after a dizzying sequence of events. There was Terrell Owens bellyaching about not getting enough passes, Jerry Jones questioning Marion Barber's toughness, and Terence Newman's suggestion that the coaches don't take enough of the blame when things go wrong.

In the end, it was the Giants searching for answers in the wake of a 20-8 loss that dropped them to 11-3. With games coming up against the resurgent Panthers at home and the Vikings on the road, the Giants are faced with the first on-field crisis of their Super Bowl defense.

"We've got to take a hard look at where we are," coach Tom Coughlin said. "It's not a good time for us to be playing this way."

It comes down to this: Beat the Panthers on Sunday at Giants Stadium, and things look a whole lot better than they do right now. Beat the Panthers, and the Giants get the No. 1 overall seed and a coveted bye week before the divisional playoffs. Lose to Carolina, and things look a whole lot worse. Lose to Minnesota, and see the No. 2 seed disappear, and the Giants are looking at having to duplicate last year's remarkable feat, the only difference being that they'd at least have a home game.

The Giants couldn't have picked a worse time to be playing their worst football of the season. They have one offensive touchdown in the last two games. Eli Manning was sacked eight times against the Cowboys. The Giants were limited to just 72 rushing yards.

No Jacobs. No Plaxico Burress. A banged-up offensive line. Problems, people. Problems.

"We're disappointed by what we did, and we've got to find a way to fix it," Manning said. "This is the team we've got. We've got to make it work."

In a hurry.

If the Giants can summon a huge effort next week at home and contain the Panthers, then they can take a well-deserved sigh of relief and take comfort knowing that the road to the Super Bowl goes through Giants Stadium. But if the problems plaguing them the last two weeks continue against Carolina, and against the Vikings, their Super Bowl defense will become imperiled.

"There's a level of concern, sure," Tuck said afterward. "We got beat by a good football team. Same last week against Philadelphia. It was two teams that really needed the wins, and we didn't do enough to win. Now we've got to find a way."

The Panthers are coming off two consecutive dominant performances — especially in the running game — in back-to-back home wins over Tampa and Denver. But they have proven vulnerable on the road this season, and the Giants will have to set the tone early in Sunday's prime time game.

There was no sense of panic in the locker room after Sunday night's loss, perhaps because they know there is still a lot to play for next week. A lot? Try everything.

It isn't technically a must-win situation, since the Giants are already in the playoffs. But if they're going to successfully defend their championship, then the Carolina game is crucial. Beat the Panthers, and the Cowboys' loss won't amount to much. Lose next week, and this thing could get ugly.