Holloway, 23, who entered the final as the world leader and top qualifier in both initial rounds, lost speed after the 10th hurdle and was overtaken in 13.09.
Parchment’s compatriot Ronald Levy took bronze in 13.10, while American Devon Allen, fifth in Rio, was fourth in 13.14.
Jamaican Omar McLeod, the defending Olympic champion, missed the team after dealing with cramps at Jamaica’s Olympic trials, hitting the first hurdle and finishing last.
