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Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.

The S&P 500 Index (SNPINDEX: ^GSPC  ) continued its descent from all-time highs Tuesday, despite little negative data to justify the fall. The pullback is more a symptom of a red-hot stock market approaching the fifth anniversary of its historic bull run than a sell-off resulting from a weak economy.

All good things must come to an end, and Wall Street fears the end of the bull run will begin with monetary tightening at the hands of the Federal Reserve. Friday's nonfarm payroll numbers for November, if sufficiently strong, could result in the aforementioned tightening. So goes the paranoid logic of Wall Street, a line of reasoning that sent the S&P down 5 points, or 0.3%, to end at 1,795 Tuesday.

Shares of Pitney Bowes (NYSE: PBI  ) were the worst decliners in the benchmark index, slumping 4.3% today. Pitney Bowes followed the larger theme on Wall Street today of selling off despite no obvious catalyst. Shares are 70% more volatile than the S&P 500, so the stock tends to swing more wildly than its peers, and considering the fact Pitney Bowes has more than doubled already this year, long-term investors shouldn't be too shaken by today's bump in the road. 

Delta Air Lines (NYSE: DAL  ) ended as another standout underperformer, falling 3.3% on Tuesday. The decline came even after Delta's brilliantly timed decision to offer more services to Seattle, a move the airline announced the morning after the NFL's Seattle Seahawks trounced Drew Brees and the New Orleans Saints in a 34-7 embarrassment on Monday Night Football. Delta also revealed November financial stats today, which were less than impressive and facilitated the stock's fall. Consolidated passenger unit revenue last month dropped by 3% from November 2012, a slump the company blamed on Thanksgiving's "calendar placement" this year. 

Lastly, shares of Regeneron Pharmaceuticals (NASDAQ: REGN  ) dropped 3.1% on the arrival of a new competitor in age-related macular degeneration, or AMD, market. The success and potential for Regeneron's Eylea has helped send the stock up nearly 70% in 2013, and now up-and-comer Ohr Pharmaceutical has the nerve to jump in the game. Ohr's Squalamine eye drop, in clinical trials now, isn't a pure Regeneron competitor, as Eylea isn't an eye drop but an injection. However, Squalamine is designed to work with Roche's Lucentis treatment to reduce the number of Lucentis injections patients need to treat their ocular problems. This threatens Eylea and therefore Regeneron, as most people want to minimize the number of eye injections they endure in their lifetime.

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S&P 500 2,151.13 -20.24 -0.93%
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Related Tickers

9/29/2016 4:35 PM
^GSPC $2151.13 Down -20.24 -0.93%
S&P 500 INDEX CAPS Rating: No stars
DAL $39.03 Down -0.20 -0.51%
Delta Air Lines CAPS Rating: ***
PBI $17.98 Up +0.03 +0.17%
Pitney Bowes CAPS Rating: **
REGN $406.36 Down -12.74 -3.04%
Regeneron Pharmace… CAPS Rating: ****