United suffered a third successive loss in all competitions to leave new boss Ruben Amorim with five defeats in his 10 games since replacing the sacked Erik ten Hag.
Fernandes was dismissed two minutes into the second half at Molineux for a second booking after fouling Nelson Semedo.
United's 10 men cracked in the 58th minute when Matheus Cunha's corner went straight in as keeper Andre Onana flapped under pressure from Matt Doherty and Santiago Bueno.
Hwang Hee-chan compounded Amorim's misery when he tapped in with just seconds left.
It was another bitter blow for United, who endured a humiliating 3-0 defeat by Bournemouth at Old Trafford last weekend after losing 4-3 in the League Cup at Tottenham.
With his team marooned in 14th place -- just eight points above the relegation zone -- Amorim's woes might not be over, with United facing in-form Newcastle on Monday before travelling to Liverpool in their first game of 2025.
Wolves climbed out of the bottom three thanks to their second successive win under new manager Vitor Pereira.
Champions Manchester City have just one victory in their last 13 games in all competitions as their Christmas schedule started in disappointing fashion.
Bernardo Silva put City in front early on before Iliman Ndiaye salvaged a point for Everton.
Seven minutes into the second half, Haaland had the chance to end his longest goal drought at the Etihad but Jordan Pickford dived low to his right to make the save.
City are languishing in seventh place and sit five points adrift of the top four, with their astonishing decline showing no sign of ending.
"Of course we need results and we didn't get it. The team played really good again in all departments and unfortunately could not win," said City boss Pep Guardiola, whose side are at risk of failing to qualify for the Champions League for the first time in 15 years.
"We accept it. It is life. We did not expect it to not win games many times. But what do you have to do? Continue."
At Stamford Bridge, second-placed Chelsea were stunned by Fulham's late fightback for a 2-1 win in a dramatic west London derby.
It was Chelsea's first home defeat against Fulham since 1979.
Cole Palmer put Chelsea ahead after 16 minutes, the England forward drilling home from the edge of the area after weaving through the Fulham defence in dazzling style.
Forest on the rise
But Fulham levelled with eight minutes left when Antonee Robinson's cross was headed down by Timothy Castagne and Harry Wilson nodded in from close range.
Chelsea were furious, claiming Alex Iwobi had fouled Pedro Neto in the build-up to the goal.
But there was worse to come for the Blues in stoppage-time when Rodrigo Muniz converted Sasa Lukic's pass with a clinical strike.
Chelsea are four points behind leaders Liverpool, who have two games in hand and host Leicester later on Thursday.
Nottingham Forest climbed to third place after a 1-0 win against sputtering Tottenham at the City Ground.
Forest went ahead in the 28th minute when Anthony Elanga raced onto Morgan Gibbs-White's pass and stroke a composed finish past Fraser Forster.
Forest's fourth successive win was sweet revenge for boss Nuno Espirito Santo, whose former club Tottenham had Djed Spence sent off in the closing moments for a second booking.
Tottenham are stuck in 11th as the pressure mounts on boss Ange Postecoglou.
Newcastle swatted aside 10-man Aston Villa 3-0, moving up to fifth place after winning three consecutive league games for the first time since 2023.
Jarrod Bowen's 59th-minute goal gave West Ham a 1-0 win at bottom of the table Southampton after the visitors saw Guido Rodriguez's red card overturned by VAR.
It was a frustrating start for new Saints boss Ivan Juric, who has replaced the sacked Russell Martin.
Bournemouth and Crystal Palace shared a goalless draw at the Vitality Stadium.
