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I fear worse, just because of the countless examples of the tech stock crash in the early 00's....
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The market is indeed sick, which is why Google had to lower the offering price. The markets need some excitement to get things going, so Google could help a bit here.
BUT, Google alone can't revive the markets and most all stocks perform poorly in bad market environments, so as the market goes, so will Google -- over the next few weeks I'd guess that to be dull and down.
By the way... in this market, how would you like to own a few thousand shares of Google at $100 if it warns of or reports any disappointing numbers?