Phelps wins 3rd gold medal in 200 freestyle.

Michael Phelps won his third gold medal, breaking his own world record in the 200-meter freestyle. The American touched in 1:42.96 seconds, lowering his old mark of 1:43.86 set at last year's world championships in Australia. Silver medalist Park Tae-hwan of South Korea finished in 1:44.85 and American Peter Vanderkaay earned the bronze in 1:45.14.

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