A large number of people would die within 1 minute of all technology disappearing.

Imagine being on the top floor of a building when this happens. That is a long way to fall
when technology suddenly disappears. Also, anybody in cold areas would be screwed.
Assuming that it's also not possible to make technology, nobody could make tools to hunt or
fire to keep themselves warm. Nobody could tie anything together since any vines or plants
or whatever disappears as soon as they are used. It would be a really, really tough day.

The next day, all technology suddenly reappears and people move back in to houses and try
to sort out what just happened and loot stores and stuff like that. I suppose that life would
move on and society would rebuild, but it would take several decades to repopulate the
world and get society back to where it was.

There would be some panic and some chaos but people would not devolve overnight. Of
course there would be looting in most poverty stricken inner cities, there frequently is when
we have any kind of "outages" but that would end in a day. It might take weeks or months
to get fully back to normal but we would be at 905 of normal within a couple days. Twitter
and blogosphere would explode with pundits espousing on their beliefs and the conspiracy
nutters would have afield day blaming the government and the illuminati, but mostly this
would be a hiccup in history that everyone had a frame of reference to. Basically everyone
would have their own stories of the "great regression" like New Yorkers all have their 9/11
stories or People from New Orleans have Katrina stories (though Katrina was far worse
because it lasted for much longer and survival became an issue. Other than people who
need critical care from a hospital mostly only those unfortunate enough to get caught up in
one nights looting/mayhem would be in danger. Fr the most part, people in suburbia or
rural areas would not be so hungry or thirsty they would venture out to do anything
dangerous in only one day.