Silicon Valley Bank

A hill is covered in snow over a vineyard Feb. 24 in Agua Dulce, Calif. The collapse of Silicon Valley Bank is having an effect on important California industry: fine wines. The bank has been an influential lender to vineyards since the 1990s.

NEW YORK — It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world.

From winemakers in California to startups across the Atlantic Ocean, companies are scrambling to figure out how to manage their finances after their bank suddenly shut down Friday. The meltdown means distress not only for businesses but also for all their workers whose paychecks may get tied up in the chaos.

California Gov. Gavin Newsom said Saturday that he’s talking with the White House to help “stabilize the situation as quickly as possible, to protect jobs, people’s livelihoods, and the entire innovation ecosystem that has served as a tent pole for our economy.”