A white light similar in brightness to a planet or large star began slowly descending eventually turning red, orange, then dark

The light remained the same size and brightness as it slowly fell from very high in the sky, over a 30 second period. When it appeared to be a couple thousand feet above ground, it faded to a red light for a couple seconds, then faded to a yellow glow, then faded out. It fell much slower than a shooting star or meteor. It had no tail. It had no flashing or variations in brightness until it turned red then orange. It fell at a speed that looked similar to a parachute. It must have been traveling fast, given the distance it went, but appeared to move slow, which made it very confusing to witness. I’ve seen many anomalies in the night sky, but nothing remotely similar to this.