Originally, 'genuflect' referred to a physical act of worship or reverence in religious contexts. The knights would genuflect before entering the cathedral.
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Cultural Variance
'Genuflect' is more common in religious traditions where kneeling is a sign of respect, like Christianity. In many churches, worshippers genuflect upon entering the pew.
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Modern Usage
Today, 'genuflect' may also be used metaphorically to express deep respect outside of religion. The audience seemed to genuflect in awe of the speaker's wisdom.