Any motor functions as a generator when turned from the opposite direction. Dynamic braking is essentially removing the power input to the motor. If it takes 1 watt to run a motor at 1 rpm, then a force upon said motor from the output shaft at 1 rpm will make 1 watt of power. Since energy cannot come from nowhere, turning the output shafts of the motor takes energy away from the locomotive which results in deceleration or braking.
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