Marissa Thomas, BBC Sport
Wolves were beaten in the final seconds of the game as Fabio Silva was adjudged to have fouled George Baldock in the box.
The penalty was the final act of an action-packed last 10 minutes. Substitute Jean-Ricner Bellegarde had given Wolves hopes of a point with a curling effort into the top corner before Silva's foul.
The youngster, who came on as a substitute in the 81st minute, was inconsolable when the final whistle blew as his side's five-match unbeaten run came to a disappointing and contentious end.
Wolves have conceded three penalties in the Premier League this season, more than any other side.
While Pedro Neto - out with a hamstring injury - will be a big miss for the away side, Hwang Hee-Chan continued his fine start to the season. The South Korean winger has contributed to goals in his last five league games (three goals, two assists).