Allan Saint-Maximin volleyed in a brilliant 90th-minute equaliser as Newcastle extended their unbeaten start to four matches and kept winless Wolves in the bottom three.
But Saint-Maximin had other ideas.
When Hwang Hee-chan sent his mis-timed clearance into the air, the Frenchman waited on the edge of the area before delivering the sweetest finish that gave Wolves keeper Jose Sa no chance.
In a pulsating finish, the visitors twice came close to snatching victory. First Saint-Maximin brought a fine save from Sa with a powerful shot, then substitute Elliot Anderson hit the bar with a far post header after Raul Jimenez had flicked a cross into the youngster's path.