Dutch champions PSV Eindhoven twice came from behind Wednesday to beat Liverpool 3-2 in a spectacular Champions League match, denying the Reds a perfect record in the league phase.

The dogged performance from PSV marred the homecoming of Liverpool striker Cody Gakpo to his boyhood club and Dutch coach Arne Slot's first match in his home country as Anfield boss.

With big Premier League games to come and first or second place already assured in the new-look Champions League, Slot's team featured no fewer than nine changes.

Star names like Dutch defender Virgil Van Dijk and Mohamed Salah were left at home, but Gakpo started, to the joy of both sets of supporters.

On a damp night at the Philips Stadion in Eindhoven, a scrappy opening quarter gave little hint to the first-half goal bonanza that was in store.

The visitors opened the scoring, with PSV star midfielder Joey Veerman caught in possession in the box and clumsily bringing down Federico Chiesa for a clear penalty.

With several front-line penalty-takers left out, it was Gakpo who took the spot kick, stroking it calmly into the corner and not celebrating against his hometown club.

PSV levelled quickly via a sharp effort from Belgium international forward Johan Bakayoko, the 21-year-old smartly turning two Liverpool defenders and curling his shot into the corner.

Liverpool were ahead again after only a few minutes, however, as Walter Benitez could only parry a fierce Chiesa shot into the path of Harvey Elliott for a tap-in five minutes before half-time.

The Dutch champions refused to lie down and equalised again on the stroke of half-time, Veerman playing in Ismael Saibari, who finished clinically in the top corner.

Another PSV attack down the left exposed the Liverpool defence again in injury time, Veerman's low cross bundled in by Ricardo Pepi for a 3-2 lead after a sensational first half.

Slot substituted the Eindhoven-born Gakpo six minutes into the second half to a standing ovation from the home fans, whom he applauded warmly.

After the end-to-end action in the first half, both teams seemed to take somewhat of a breather early in the second period, with little goalmouth action.

Saibari should have put PSV out of sight on 73 minutes when clean through on goal but a heroic last-ditch tackle from Tyler Morton kept the Reds in the game.

It was Saibari's last action of the game as PSV coach Peter Bosz brought on local hero Luuk De Jong for the last phase of the match.

Liverpool's task was made even harder when 18-year-old Amara Nallo was shown a straight red for a mis-timed tackle on Bakayoko only four minutes after coming on as a substitute.

Slot's young guns pressed strongly but could not find a way through stout PSV defence for a famous win, the club's first ever victory against the Reds.

Despite the loss, Liverpool finished top of the Champions League standings. PSV will have to make their way through the play-offs.