The Collaborative International Dictionary of English v.0.48:

Downward \Down"ward\, Downwards \Down"wards\, adv. [AS.
   ad?nweard. See Down, adv., and -ward.]
   1. From a higher place to a lower; in a descending course;
      as, to tend, move, roll, look, or take root, downward or
      downwards. "Looking downwards." --Pope.
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            Their heads they downward bent.       --Drayton.
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   2. From a higher to a lower condition; toward misery,
      humility, disgrace, or ruin.
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            And downward fell into a groveling swine. --Milton.
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   3. From a remote time; from an ancestor or predecessor; from
      one to another in a descending line.
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            A ring the county wears,
            That downward hath descended in his house,
            From son to son, some four or five descents. --Shak.
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WordNet (r) 3.0 (2006):

downwards
    adv 1: spatially or metaphorically from a higher to a lower
           level or position; "don't fall down"; "rode the lift up
           and skied down"; "prices plunged downward" [syn: down,
           downwards, downward, downwardly] [ant: up,
           upward, upwardly, upwards]