Jack Taylor's last-gasp header earned Ipswich a priceless win at Molineux that also increased the pressure on Wolves manager Gary O'Neil.
The substitute's 93rd-minute winner gave the Tractor Boys their second victory of the season and saw tempers flare on the pitch between the two sides at full-time.
Matheus Cunha - whose goal looked like he had resuced a point for Wolves - and Rayan Ait-Nouri were involved in confrontations with Ipswich staff and players on the pitch immediately after the final whistle, while the home fans turned on the club's owners, Fosun.
Ait-Nouri was then shown a red card in the tunnel after everyone had left the field.
O'Neil was backed by chairman Jeff Shi this week but, despite the support, managers who lose 11 of the first 16 games in a Premier League season are unlikely to keep their jobs, especially after such a damaging defeat.
He watched helplessly as second bottom Wolves conceded a comical opener via Matt Doherty's calamitous own goal, while Taylor's late winner from a corner means they are now three points behind Ipswich and four from safety.
The third bottom Tractor Boys are a point behind Crystal Palace, who go to Brighton on Sunday.
- Published1 hour ago
Wolves fans' patience evaporating
The problems at Molineux go deeper than the head coach, who did a fine job when he replaced Julen Lopetegui just days before the start of last season, and on Saturday the home fans chanted against Shi and Fosun to underline that.
The owners have curbed spending on players at Molineux - O'Neil highlighted after Monday's 2-1 defeat at West Ham they have sold £200m of talent in the past 18 months.
Yet Wolves are second bottom and conceded another goal from a set-piece – their 20th of the season - against a relegation rival when only a win would have eased the pressure on O'Neil.
There was sympathy and understanding during a difficult start when Wolves deserved more points than they took but picking up just one point from home games against Crystal Palace, Bournemouth and Ipswich has seen any patience from the terraces evaporate.
Ipswich's opener was fortuitous.
Doherty had cleared Omari Hutchinson's goalbound effort away, only to score a hapless own goal seconds later when Toti Gomes' clearance from Conor Chaplin's shot hit him and rolled in.
The Molineux mood darkened. And the chants against Fosun and Shi continued into the second half.
Jean-Ricner Bellegarde and Jorgen Strand Larsen wasted the hosts' best chances before, just as the atmosphere was turning toxic, Cunha levelled with 18 minutes left when he drilled in from Goncalo Guedes' pass.
Strand Larsen went close seven minutes from time and Cunha was also denied by Ipswich keeper Arijanet Muric.
But Taylor nodded in Jack Clarke's corner in stoppage time to snatch victory.
Ipswich captialise on Wolves anxiety
Kieran McKenna and his squad celebrated in front of the travelling Ipswich fans after arguably their biggest result of the season.
The Tractor Boys know where they sit in the Premier League pecking order and after back-to-back promotions from League One have not allowed themselves to lose perspective.
They knew the pressure was on Wolves and arrived with a calm mindset; they leave looking to build on a huge result in the battle to avoid relegation.
Ipswich defended resolutely, particularly in the final 15 minutes when Wolves were in the ascendancy and looking the most likely to find a winner.
But they exploited the hosts' inability to defend set pieces and capitalised on their anxiety to pick up three valuable points.
Newcastle visit Portman Road on Saturday before a trip to Arsenal and a home game with Chelsea finish the year.
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