Defender Sotirios Kyrgiakos pulled one back for Liverpool after 53 minutes when he headed home a Steven Gerrard free kick, but the home side, who lost Spain striker striker Fernando Torres with an injury after nine minutes, were unable to fight back.
"It's a bad result and a very bad day," Hodgson told a news conference.
"There's nothing more I can say. We were very anxious to get back on track, to get the three points and lift ourselves up the table.
"No words or anything I can say can change that situation or make it better.
"It's pointless to try and be positive and say the second half was better and we could have got an equaliser because we lost the game -- a game we did not want to lose," he added.
Manchester City took the lead against Newcastle with a first-half penalty from Carlos Tevez and England's Adam Johnson fired a 75th-minute winner after Jonas Gutierrez had equalised.
The visitors also lost striker Hatem Ben Arfa with a suspected broken leg. "It does not look good," Newcastle manager Chris Hughton told reporters.
"It looks like a broken leg. Everyone will have their own opinion but it was a tackle that did not need to be made," he added.
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