Wolves, who are still bottom of the Premier League table, sealed a famous win after George Elokobi’s header levelled Nani’s third-minute opener before Kevin Doyle scored the winner five minutes before the break from a Nenad Milijas free-kick.
United were unbeaten in 24 top flight matches and had only suffered one defeat in all competitions this season when they were thrashed 4-0 by West Ham in November’s Carling Cup quarter-final.
“We are disappointed. It’s been a long run for us,” said Ferguson after the match. “The players have done us all proud but in the second half we didn’t really get going.
“They [Wolves] are a handful at the set pieces as it proved today. It was an opportunity for us to continue our great run but today was a great disappointment.”
The United boss added: “I said before the game, I do think Wolves are in a false position. But we had a great start. We made a lot of chances, particularly in the first half.
“Then in the second we were not at the races. Their keeper did not have many saves to make. The pitch was not very good but we didn’t make anything.”
The result sees United’s lead at the summit of the Premier League table cut to four points over an Arsenal side who had earlier squandered a four-goal lead as Newcastle staged a remarkable comeback to draw 4-4 at St James’ Park.
Saturday’s eight Premier League matches yielded a record 41 goals – the highest number ever scored in one day.
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