Coriolis force. If a geostationary satellite was instantaneously accelerated straight down towards the Earth, its path (from Earth's perspective) would not be straight down as its original circumferential velocity at geostationary orbit (pi * geostationary orbit diameter * Earth radial velocity) would be "too high" when the altitude is lower.
To continue moving "straight down" its angular velocity would need to be constant, which means as its altitude decreases the circumferential velocity would need to decrease. But gravity only pulls down, there's no force to accelerate it in that direction. So therefore it appears to curve off to the side.
To continue moving "straight down" its angular velocity would need to be constant, which means as its altitude decreases the circumferential velocity would need to decrease. But gravity only pulls down, there's no force to accelerate it in that direction. So therefore it appears to curve off to the side.