Using your choice of words it would be "stable/static". Effects of gravity moves at the speed of light. Perhaps a better example would be Earth orbiting the Sun.
The Earth is 8 light minutes away from the Sun. Meaning, the sunlight we see on Earth at this exact second left the Sun about 8 minutes ago. If we wave a magic wand and make the Sun blink out of existence in a fraction of a second, the Earth would continue to orbit the, now non-existent, Sun for the next 8 minutes. After 8 minutes the Earth would stop its circular orbit and head straight out of the solar system at what ever direction it was traveling at the end of the 8 minutes.