Swansea City 4 (Orlandi 1, Allen 3, Dyer 14, Graham 31)
Wolves 4 (Fletcher 28, Jarvis 33, 69, Edwards 54)
Incredible is the only word to describe Wolves' game at Swansea. The Welsh club were three up inside 15 minutes but Wanderers battled back to take control of proceedings and a point from a 4-4 draw
David Davis was absent after picking up an eye injury during training. In his place, as the only change to the side that started against Manchester City, came Kevin Doyle as Terry Connor opted for a 4-4-2 formation.
City kicked off attacking the end of the ground that housed around a thousand loyal travelling fans and they looked down in horror as Andrea Orlandi opened the scoring after just 24 seconds with a header that looped over Dorus De Vries following a cross from Scott Sinclair.
And the situation very quickly grew even bleaker as Joe Allen added a second in the third minute. He ran onto a through ball from Gylfi Sigurdsson and from 20-yards hit a low shot that took a deflection off Richard Stearman's foot to deceive De Vries.
A Michael Kightly corner was cleared as were two Matt Jarvis centres but any hope that Wolves had of getting back into the game looked to be gone as City moved into a three goal lead after 14 minutes. Orlandi beat Kevin Foley as he ran into the box and his cross was headed in at the back post by Nathan Dyer.
De Vries was getting the bird from the home fans every time he went near the ball but the Dutch keeper did well to prevent a fourth as he blocked from Danny Graham who had intercepted Foley's under hit back-pass.
Steven Caulker cleared a low Jarvis cross as Doyle looked for an opening and, from Jarvis's corner, the ball was half cleared to Kightly whose shot from the edge of the box just cleared the angle.
De Vries made a routine save to take a drive from Orlandi before Steven Fletcher pulled one back in the 28th minute as he guided a header past Michel Vorm after a fine cross from Doyle.
But it took Swansea just three more minutes to regain their three goal advantage. Dyer delivered a short cross to the unmarked Graham who had time to control the ball before firing into the far corner of the net.
Two more minutes passed by before the crowd were treated to another goal and this time it was Jarvis that found some space in the home area to send an angled shot into the net after another good cross from Doyle.
Incredibly, given the woeful start they had made, Wolves began to get on top and they had the best of the chances leading up to the break.
Kightly's long punt into the box found Jarvis but home skipper Garry Monk got back to clear for a corner which was taken by Jarvis. The ball was headed out to Kightly who smashed a low shot that was inches wide.
A short through ball from Karl Henry found Fletcher and his low cross-shot went across the face of the City goal and, seconds later, Stephen Ward charged through from the left and hit a shot that had Vorm at full stretch to knock the ball away.
Doyle snapped up a miss-hit pass from Monk and looked on for a third for Wolves. But Vorm spotted the danger and he was quickly out of his area to get in a part block with Monk getting back to turn the ball behind before Doyle had a chance to convert.
Just before the break Doyle headed wide after a cross from Ward.
Half-Time: Swansea 4 Wolves 2
Neil Taylor was an interval replacement for Orlandi as the game resumed in much the same way as it had finished - at breakneck speed.
Inside the first two minutes, Sigurdsson twice went close to extending Swansea's lead. He hit the base of the post with a fierce shot from 12-yards and, when the danger wasn't cleared, he unleashed a long-range effort that drew an excellent save from De Vries.
But on 54 minutes Dave Edwards reduced the deficit to just one as he ran onto Kightly's through pass and calmly slotted the ball past Vorm.
Ward went into the book for obstructing Dyer as Wolves once again took up the initiative with crosses from Kightly and Jarvis only cleared with difficulty by the home defence.
With 69 minutes gone Jarvis scored his second of the game to level things up. Edwards found Fletcher to the left of the Swansea goal and his low cross was turned in by Jarvis.
It was virtually his last action of the contest as he was replaced shortly afterwards by Stephen Hunt.
Another substitution for Wolves followed with Sylvan Ebanks-Blake taking the place of Fletcher whilst Luke Moore was sent on in place of Graham for Swansea.
Five minutes from the end Kightly had a chance to win it for Wanderers but he fired over after Ebanks-Blake had picked him out 22-yards from goal.
Leon Britton and Moore were booked for dissent after the former Villa and Albion striker was adjudged to have fouled Christophe Berra.
Moore then had the opportunity to snatch a stoppage time winner for the home team when he beat the offside trap as he raced through the middle.
But De Vries got in a part block and Stearman got back to block the striker's path to goal to ensure that Wolves to picked a more than deserved point.
Swans: Vorm, Williams, Caulker, Britton, Orlandi (Taylor 45), Graham (Moore 82), Sinclair, Dyer, Monk (capt), Allen, Sigurdsson.
Unused subs: Tremmel, Routledge, McEachran, Lita, Gower.
Bookings: Moore (90 - dissent), Britton (90 - dissent).
Wolves: De Vries, Foley, Ward, Edwards, Stearman, Berra, Kightly, Henry (capt), Fletcher (Ebanks-Blake 76), Doyle, Jarvis (Hunt 72).
Unused subs: Ikeme, Johnson, Milijaš, Jonsson, Zubar.
Booking: Ward (57 - obstruction).
Referee: J. Moss.