Phelps on fire
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Michael Phelps won his third gold medal breaking his own world record in the 200-meter freestyle at the Beijing Olympics.

The American touched in 1 minute, 42.96 seconds, lowering his old mark of 1:43.86 set at last year's world championships in Australia.

He made up to the wall nearly 2 seconds ahead of silver medalist Park Tae-hwan of South Korea, who finished in 1:44.85. American Peter Vanderkaay secured the bronze in 1:45.14.

Phelps now has nine career golds and now in competition with Mark Spitz and track star Carl Lewis, for most career golds.

He bagged 3 out of 3 now, with three world records, in his attempt to break Spitz's 36-year-old record of seven golds in a single games. Spitz set world records in each of his races at the 1972 Munich Olympics.

Phelps' other victories were in the 400 individual medley and 400 freestyle relay.

WATCH HIM IN ACTION...