Matt Doherty’s 94th minute winner sunk Newcastle at St James’ Park, with a red card to DeAndre Yedlin furthering the misery.
The visitors took the lead in the 17th minute when a cross from the right from Helder Costa was controlled on his chest by Diogo Jota before he coolly side-footed past Martin Dubravka.
Newcastle responded well to falling behind and were back on level terms in the 23rd minute. Salomon Rondon’s stunning free-kick beat the goalkeeper but crashed back off the right-hand upright.
The visitors struggled to clear the danger and when the Venezuelan striker crossed the ball back in, Ayoze Perez flicked a superb header past Rui Patricio.
Newcastle were reduced to 10 men in the 57th minute. DeAndre Yedlin lost possession to Jota and pulled him down as the striker looked to be clean through. Referee Mike Dean had no hesitation in brandishing a red card.
Wolves came close to a second goal when Raul Jimenez cracked a shot against the crossbar in the 74th minute. But just when it looked as if 10-man Newcastle would hold on for a point, a stoppage-time shot from Jota was pushed into the path of Matt Doherty by Dubravka and he could not miss with a close-range header.