This is not happening "all of a sudden".
Dogs do not have random bouts of aggression. Chances are, the dog was poorly socialized as a puppy, and the dog park is a very stressful situation for a dog that doesn't understand how to act.
A staring competition between two dogs is seen as a threat, each dog has to defend their own, and circling is a dangerous behavior in its own.
I would not take that dog back to the park, and I would advise you to have him examined by a behaviorist to see what the safest route would be to lessening his stress and anxiety when he's around other dogs.
Eventually, if you continue allowing him to become overly stressed, he'll snap all together and outright attack another dog. Its unfair to your dog to allow this stress to burden him, and is unfair to other users of the park and their dogs to put them in a situation that could quickly turn bloody, and possibly deadly.
Dogs just don't randomly begin aggressing towards other dogs. There have always been warning signs, chances are, you've just missed them. But so long as you keep this under control, and work with a behaviorist to help your dog, this is a problem that can be maintained and helped.
Also, is your dog neutered, and has he been examined by a vet for thyroid problems within the last few months? Thyroid issues can cause extreme aggression in an otherwise docile dog. But I wouldn't relate this completely to a medical disorder, a dog that is staring down and circling another is likely to just have dog aggression issues.