Stock Market Crash August 2011?

There was a dramatic stock market crash at the beginning of August 2011 that affected all sectors equally.
The crash was the worst single-day sell-off since December 2008, the Dow Jones had a 4.31 percent drop.
Is the stock market going to continue its trend downwards in August 2011 or is it going to recuperate and break the downturn?
I'm interested because my dad has a lot of his money invested in the stock market and he is getting very nervous about the crash.

The stock market is in the midst of its biggest retreat since the financial crisis.
The market is affected by renewed worries about a possible double-dip recession, since our economy is not so good right now.
Almost every market index slid, as did the prices of oil and gold.
In my opinion, I think the stock market crash is not over and we're going to see much more selling, the political landscape is not helping at all.