Jurgen Klopp’s side were looking to cut Chelsea’s lead to four points ahead of the west London outfit’s home clash against Hull City at Stamford Bridge on Sunday afternoon.
However, former Athletic Bilbao and Juventus striker Fernando Llorente scored twice in four second-half minutes to give Swansea a surprise 2-0 lead with 38 minutes to play on Merseyside.
Roberto Firmino halved the deficit with a close-range header before the Brazil international levelled the Premier League clash with a sumptuous volley with 21 minutes remaining.
Liverpool could finish the weekend in fourth place and 10 points behind Chelsea if the Premier League leaders, Arsenal and Tottenham Hotspur win their fixtures.
Speaking to BT Sport after Liverpool’s 3-2 loss, Gerrard delivered his verdict on the 4-3 loss.
“I’m still in shock with that Liverpool defeat,” Gerrard said.
He added: “It’s been like that for a long time when I played as well. The damaging results were usually against the lower teams. Liverpool will know that. That dressing room will be stunned. You can see that from Jurgen Klopp’s face.”
However, Swansea upset the odds again to deny Liverpool a comeback win after Iceland international Gylfi Sigurdsson scored a goal on the break to seal three points the visitors.