How Coronavirus killed my real estate deal...

Fred (not his real name) is under contract to purchase a home I have on market.  He's been under contract for some 30 days.  Once we rolled into our present Coronavirus crisis, and about 10 days away from closing Fred says, "I don't want it".  It's noteworthy that the loan commitment has already been shared to all parties and EVERYTHING is ready to go for closing.  Subsequently, if Fred cancels now he's risking the loss of his $20,000 escrow deposit.  Sellers have yet to decide if they'll go after it.  Fred's logic is that since these are extraordinary circumstances, he should not have to forfeit his deposit for cancelling the purchase.  And while I can certainly agree that these are extraordinary times, that may not necessarily allow Fred to punch out unscathed.  The contract does have a provision for so called "acts of God" like hurricanes, yet I don't think that the Florida Bar Association had Coronavirus in mind. As both Fred and the Seller have their own respective attorneys, I'll let them hash it out.