Headlights in ALL cars are screwed into a sheet metal bracket. In Volvos, the bracket holds the headlights as well as the radiator, quite large. I suspect the bottom of the bracket was pushed in a little which is what is now causing the headlight to point downwards.

Fixing this is problematic. In most cases, you will need to remove the headlight and pound the bracket back into a reasonable flat plane. That means you will need to remove the headlight. To remove the headlight on newer cars, you might have to remove the bumper cover first!

You can 'try' aiming the headlight, but I suspect that will only work if the adjustment screws are long enough.
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My name is Klaus and I am a V♂lv♂holic