I don't think Baldor died of fear, rather, he probably died of something more practical and realistic, hunger and thirst. He had trapped himself inside the Paths (and I'm assuming that his was the skeleton that Aragorn & Co. found in the Paths) and since dead men don't need food or drink, there was none in there. Baldor slowly starved to death, and eventually tried to hack his way out, breaking his sword (which Aragorn & Co. also found).
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But Melkor also was there, and he came to the house of Fëanor, and there he slew Finwë King of the Noldor before his doors, and spilled the first blood in the Blessed Realm; for Finwë alone had not fled from the horror of the Dark.
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