The phrase "a steep fall from" is correct and usable in written English.
It can be used to describe a significant decline or decrease in status, quality, or performance compared to a previous state.
Example: "After the scandal, there was a steep fall from grace for the once-respected politician."
Alternatives: "a dramatic decline from" or "a sharp drop from".
Wells Fargo received $87 billion worth of home loan applications in the quarter, a steep fall from $188 billion in the period a year earlier.
Saks Fifth Avenue, a division of Saks Inc., the former Proffitt's, reported operating losses of $18.9 million for its 64 stores, a steep fall from $30.3 million profit it posted a year earlier.
He has endured a grueling journey, a rebound from a steep fall from grace.
His presence at Morgan reflects a determined rebound from a steep fall from grace.
The figure marks a steep fall from last August when the age group made up 12% of homebuyers.
The court action on Tuesday provided the most dramatic chapter yet in a steep fall from grace for Mr. Musharraf, a swaggering, whiskey-swilling general who seized power in 1999.
Its stock has plummeted, contributing to a steep fall for shares of small business lender OnDeck.
Erdoğan's governing Justice and Development party, or AKP, won the election comfortably for the fourth time in a row, with around 41% of the vote, but that represented a steep fall in support from 49% in 2011, throwing the government of the country into great uncertainty.
The smaller firms where most people work, meanwhile, have not profited from a steep fall in the yen as have the big exporters; they are handing out far lower pay increases.
But most recent results and polls suggest a collapse in Lib Dem popularity – with the British Election Study internet panel survey showing a steep fall in Liberal Democrat support from 44% in 2010 to 13% in 2014.
Oil prices have jumped toward their highest level in a decade, but shares in the company, the world's third-largest energy concern, have been struggling to recover from a steep fall after several managerial faux pas.
