Wolves went ahead when Kevin Doyle finished clinically after riding two challenges after 42 minutes and they doubled their lead through Matt Jarvis just before halftime when he cracked the ball in as it came back off a post.
It was Fulham’s first defeat in nine matches since Martin Jol took over at Craven Cottage, following seven unbeaten games in the preliminary rounds of the Europa League and an opening 0-0 draw in the league against Aston Villa last week.
Wolves have six points from their two games. Bolton Wanderers and Manchester City who both have three points from their opening games, were meeting later on Sunday (1500 GMT).
In the day’s other match, 10-man Norwich City were denied their first win of the season when Stoke City’s Kenwyne Jones headed in a stoppage-time equaliser at Carrow Road to secure Stoke a 1-1 draw.
Ritchie de Laet had scored against his old club to put the Canaries in front after 37 minutes.
Stoke missed a chance to equalise when Norwich’s Leon Barnett was sent off for a foul on Jon Walters who took the resulting penalty which was saved by Norwich keeper John Ruddy.
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