Something's definitely wrong, but Strange got hit hard by the memory haze and is just now trying to put together some of the very obvious pieces.

"I know she's here," Strange explains, looking out towards the ballroom as if he can see Arabella within the crowd. "So I should be with her. Otherwise—"

Otherwise she might get captured again. That damned white-haired faerie was here already as was the Prince. God, as was the Ringmaster, and while he trusted her, he was not going to let Arabella sign a contract with the carnival. It's at this point that Strange realizes he hasn't finished his previous thought.

"Otherwise I might lose her again," he finishes, way more worried and tense now than when the conversation first started.