Wolves prop up the table with three points while Palace, who claimed their first win last week, are 17th with seven.
Some boos rang out at the end and Wolves manager Gary O’Neil remains under pressure after a horrid start to the campaign.
It is only the third time in their history that Wolves have failed to win any of their opening 10 league games – and the first time since 1926-27.
“I don’t think it’s all on him. The whole group has a lot of responsibility. We need to keep going,” Wolves striker Matheus Cunha said. “When you are a football player, you need to give your energy to the things you can manage”.
Palace were the better side in the first half and Will Hughes should have put them ahead before Jean-Philippe Mateta looked certain to score only to see his effort blocked on the line by his own team mate Eddie Nketiah.
The visitors went ahead on the hour when Chalobah’s angled shot found the net after poor Wolves defending.
The home side responded in spirited fashion and levelled when Strand Larsen was played through by Cunha and struck a shot that went through the legs of keeper Dean Henderson in the 67th.
