Both players also were fined Friday by Frank Robinson, major league baseball's head of on-field discipline.
In the top of the fifth inning of the game at Wrigley Field, Wood threw a pitch near Alex Cora's head, but the pitcher was not warned at the time.
In the Cubs' half of the inning, Valdes almost hit Mark Grace with his first offering, and home plate umpire Mark Wegner warned Valdes. On a 3-1 count, Valdes hit Grace in the right arm and immediately was ejected.
Both pitchers may appeal the suspensions, but a Cubs spokesman said Wood was not expected to do that and would begin serving his suspension Friday. Wood's last start was Wednesday at Colorado and he is not expected to miss his next start.
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