With the scores goalless heading into the last 60 seconds of injury-time, a woeful backpass from Ronald Zubar gave Bolton debutant Daniel Sturridge the simple task of netting the winner.
A disconsolate McCarthy said: "I don't really know what I can say after that, I feel lousy and I feel robbed. We had a point in our pocket but we gave it away.
"I think everyone had settled for a draw and there had been a few chances at either end and I was quite pleased with the potential point. I can't say anything to lift the players now."
The result dropped Wolves to the bottom of the Barclays Premier League table, two points behind West Ham, and, although McCarthy gave his backing to Zubar, he knows mistakes are costing his side dearly.
"I went and shook Zubar's hand to get his chin up and carry on playing," he continued. "That is hard for all of us but that is what we have to do. He didn't mean to make a mistake but a mistake it was and we continue to make them. And if we keep doing it we will keep getting punished. It was self-inflicted, like it was self-inflicted at Fulham, Spurs, Manchester United, I could go on."
Source: PA
Source: PA