Sam Allardyce's team was stunned by a wonder strike from Gareth Bale in injury time which earned Spurs a 3-2 victory in Monday's Premier League clash.
The Welshman had already opened the scoring before West Ham battled back in front with goals from Andy Carroll and Joe Cole. An equalizer from Gylfi Sigurdsson was followed by the late blow which condemned the Hammers to their fifth home defeat of the season.
"It's sickening to lose when you've played so well and you have a valuable point taken away at the last minute," Jarvis told the club's official website. "Bale has turned and stuck one right in the top corner. It's hard to stop that, but we played well and that's why it's hard to take.
"But we've got to look at the positives that we did play really well, created some great chances and should have got a result."
One of those positives was the performance of West Ham keeper Jussi Jaaskelainen, and Jarvis was full of praise for the 37-year-old.
"Jussi pulled off some great saves and kept us in it. Obviously they're going to create chances, so when we needed him he pulled off some fantastic saves," he added. "[Bale] can do anything he wants with the ball. When he struck the last one it wobbled everywhere and ended up in the top corner. It's a fantastic strike and sometimes you have to hold your hands up."