Mark Crossley produced a virtuoso display of goalkeeping as Fulham gained their first away win of the season in a remarkable match with Newcastle.
The keeper had already made a string of fine saves when Collins John scored on the break to put Fulham ahead.
Steed Malbranque drove home to finish another classic Fulham break, before the same player netted a penalty.
Luis Boa Morte made it four with a clever chip, before Craig Bellamy headed a late consolation for United.
Newcastle will be wondering what went wrong after they dominated a high-octane first-half which was peppered with chances.
Crossley parried a powerful right-foot drive from Lee Bowyer as early as the third minute, and made a similarly fine save seconds later as the loose ball fell to Craig Bellamy.
Bowyer was then denied by Crossley's boot as he rifled in a low shot on 13 minutes.
Fulham chances were few and far between early on, although the visitors almost took the lead themselves on 22 minutes as Cole lunged for Luis Boa Morte's low cross and was only inches away from connecting.
Newcastle came back and the London side were thankful for a superb save at the near post by Crossley as Robbie Elliott headed Olivier Bernard's cross goalwards.
Yet on 28 minutes, Fulham were in front thanks to John's fine low strike from the edge of the box after a quickfire break.
The home fans were fuming as they felt play should have been stopped before the breakaway as Alan Shearer appeared to have been pushed by Zat Knight.
And they were riled further two minutes later, as Shearer had a penalty on the half-hour as he tumbled inside the box under pressure from Pape Bouba Diop - but referee Howard Webb waved play on.
Toon boss Graeme Souness was furious, and was ordered from the dug-out for his protests.
Still the home side pressed, and Fulham were once again grateful to Crossley on 38 minutes as he made a remarkable point-blank stop from Kluivert as the Dutchman followed up Bellamy's shot - although in truth he probably knew little about the save.
Shearer was involved two minutes after the restart, although Knight stretched out a leg to block his shot.
Crossley was again in action on 57 minutes as he reacted well to tip a trademark free-kick from substitute Laurent Robert around the post, with the keeper unsighted.
And Newcastle were exasperated four minutes later as Kluivert connected with Bowyer's cross only to see his low drive blocked, yet again, by Crossley.
And Fulham took full advantage as they doubled their lead with a classic breakaway goal on 65 minutes.
With the home side pressing, Cole moved clear on the left and passed inside to Malbranque who finished brilliantly from the edge of the box.
That sparked a remarkable run of four goals in 12 minutes as Newcastle's confidence crumbled and the home fans were stunned as Fulham made it 3-0 on 71 minutes.
Robbie Elliott clumsily fouled Tomasz Radzinski inside the box and Malbranque coolly stroked home the penalty.
Newcastle were shocked, and Fulham took full advantage, with Boa Morte chipping over Steve Harper to make it 4-0 on 76 minutes.
Bellamy finally got the ball past Crossley with a header one minute later, but it was little more than a consolation.
But Crossley still had time for more fine saves, once from a close-range Kluivert shot and again, full-length, from Bellamy to complete a remarkable afternoon for Fulham.
Newcastle: Harper, Hughes (Robert 57), Elliott, O'Brien, Bernard (Ameobi 68), Bellamy, Butt, Bowyer, Jenas, Shearer, Kluivert. Subs Not Used: Bramble, Johnsen, Caig.
Goals: Bellamy 77.
Fulham: Crossley, Volz, Knight, Rehman, Bocanegra, Malbranque, Diop, Pembridge, Boa Morte, Cole, John (Radzinski 57). Subs Not Used: Legwinski, McBride, Rosenior, Van der Sar.
Goals: John 28, Malbranque 65, 71 pen, Boa Morte 76.
Ref: H Webb (S Yorkshire).