It's foolish to think that all stock price declines are merely the result of the market being fearful. Often, a decline in share price can be warranted. But remember, in the short-run the stock market is a a voting machine; in the long-run the stock market is a weighing...
...machine. Stock prices will fluctuate day-to-day. But over many years, stock prices will reflect the true intrinsic value of the underlying business. It's important to remember this fact - and to always think of Mr. Market.
Don't forget: Mr. Market has incurable emotional problems - Warren Buffett once even referred to Mr. Market as a "drunken pscycho". Sometimes he's happy, sometimes he’s depressed. But he doesn't mind being ignored, and he'll always be back tomorrow to quote you a new price. So let Mr. Market serve you and not guide you.