The result sparked a pitch invasion by angry fans – when Wolves central defender Roger Johnson apperared to be jostled – and a protest outside the ground against owner Steve Morgan and chief executive Jez Moxey.
Wolves manager Dean Saunders admitted he was “devastated”.
Goals at the start of each half from Danny Ings and Martin Paterson before a late consolation by Nouha Dicko ensured that Wolves are three points adrift of safety ahead of Saturday’s final game of the season at Brighton and seemingly needing a miracle to avoid the drop.
Saunders, who replaced Stale Solbakken in January, said: “I am devastated. We should never be in the position that we are in. We have got ourselves in a terrible position, forget this game, we should never be in this position.
“We are not dead yet, obviously it is stacked up against us but stranger things have happened and we have to make sure that they happen to us.”
Saunders admits he can understand the frustration of the fans and he added: “I have to sort the club out from top to bottom and get the mentality right. You need to be able to play under pressure so you have to sign the right players.”
One of these players could be striker Leigh Griffiths who is on loan at Hibs but could be recalled to Wolves next season.
Hull failed to seal automatic promotion to the Premier League after they were beaten 2-0 by Barnsley. Hull’s final game of the regular season, in which a win will still mean automatic promotion, is at home to Cardiff on Saturday.
In League One, Doncaster confirmed their promotion and were crowned champions following a dramatic finish in their final game of the season against Brentford.
James Coppinger’s injury-time winner ensured Doncaster were crowned champions – just seconds after Brentford had missed a penalty.
The Bees had their chance to seal promotion after Clayton Donaldson was bundled over in the box, but on-loan Fulham striker Marcello Trotta blasted his penalty against the bar.
Billy Paynter then raced away on the break and squared for Coppinger to slide home.