Pretty dramatic. I take it that it's spewing burning fuel that's leaving a trail of little fireballs.
https://abcnews.go.com/US/atlas-air-boeing-747-cargo-plane-engine-failure/story?id=106515693
Juan Browne seems to think it was shedding turbine blades.
https://abcnews.go.com/US/atlas-air-boeing-747-cargo-plane-engine-failure/story?id=106515693

Juan Browne seems to think it was shedding turbine blades.