Michael Phelps won a gold medal and shattered the world record in the 400m IM Sunday at the 2008 Olympic Games, turning in a time of 4:03.84. Phelps’ medal was one of five for American swimmers Sunday.

Also winning hardware for the U.S. in individual events were Ryan Lochte with a bronze in the men’s 400m IM, Larsen Jensen with a bronze in the men’s 400m freestyle and Katie Hoff with a bronze in the women’s 400m IM.

The American women’s 400m free relay (Natalie Coughlin, Lacey Nymeyer, Kara Lynn Joyce and Dara Torres) capped finals with a silver medal and an American record in that event with a time of 3:34.33.

Also setting American records were Jensen in the 400m free (3:42.78), and Christine Magnuson in the semifinals of the women’s 100m butterfly (57.08). Another world record fell Sunday in the women’s 400m IM, with Australia’s Stephanie Rice turning in a time of 4:29.45.

Recapping the races, the men’s 400m IM shaped up to be a three way race between Phelps, Ryan Lochte and Hungarian Laszlo Cseh. All three were neck-and-neck and under world-record pace through the backstroke leg, when Phelps started to break away.

“I knew I was going to need a strong breaststroke when we all turned together at the wall,” Phelps said. “Ryan turned dead even with me, so I knew I was going to have to overpower him in the breaststroke.”

Phelps built a body-length lead by the 300-meter mark, leaving Lochte and Cseh to battle it out for second. Cseh took silver in 4:06.16, while Lochte was third in 4:08.09. Despite the 1-3 finish Sunday, Phelps and Lochte remain the two fastest swimmers in the world in this event.

“I guess you can say I went out too fast, but I knew I had to get out fast,” Lochte said. “The backstroke took a lot out of me, but I did my best. I can’t ask for more.

“Michael competed the whole way and did really well. He had a great race, and I’m really proud of him.”

Phelps hinted that this race would be his last 400m IM, and won his gold medal in front of President George Bush, who was in the audience on Sunday to take in the swimming competition.

“I told Bob (Bowman) that this would be my last 400 IM, so I wanted to go out there and get a good time,” Phelps said. “And this was a good time.

“Afterwards, I looked up and saw President Bush giving me a thumbs-up and holding the American flag. That was pretty cool.”

Korea’s Taehwan Park led the pack for all but 50 meters of the men’s 400m free, winning with a time of 3:41.86, followed by China’s Lin Zhang in 3:42.44 and Jensen. Jensen was in fifth place at the halfway point and made his move on the pack in the last 100 meters.

His late surge, however, came up short, and he finished 34-hundredths of a second behind Zhang. American teammate Peter Vanderkaay was fourth in 3:43.11.

“I probably could have gone out a little faster,” Jensen said. “I saw (Zhang) next to me in the last 50 and just buried my head. I was hoping for gold, but everyone in that race was. I gave it everything I had.

“Winning bronze this time, I’m more appreciative of what the Games mean. It’s an honor to represent the U.S. at such a high level and to come here and compete against the best athletes. It’s an honor and privilege to be here, especially to swim in front of the President. There is no greater honor as an athlete than to compete in front of the president.”

Australia’s Rice was in command of the women’s 400m IM from start to finish, and at one point was as much as 2.99 seconds ahead of world record pace. Zimbabwe’s Kirsty Coventry was tight on her tail the whole way, taking the lead for a brief moment at the end of the backstroke leg.

Hoff trailed the two by a body length for most of the race, touching in 4:31.71, 59-hundredths off her former world record. Rice won gold in world-record time, while Coventry took the silver in 4:29.89. American Elizabeth Beisel finished fourth in 4:34.24.

“I’m a little tired, but I’m happy to get my first-ever Olympic medal,” Hoff said.

Joyce swam a key leg for the U.S. in the women’s 400m free relay, moving the team into second position at the 300-meter mark, 71-hundredths behind the Netherlands. Torres held off Australia and China down the stretch for the silver medal.

The Netherlands won gold in an Olympic record time of 3:33.76, while Australia took bronze in 3:35.05.

In semifinal action, Magnuson is the second seed heading into tomorrow’s finals of the women’s 100m fly with her American-record time. She’s seeded just three-hundredths of a second behind Libby Trickett of Australia. Elaine Breeden will be the second alternate for tomorrow’s finals after finishing 10th Sunday in 58.55.

“I felt a lot better today than yesterday,” Magnuson said. “I stayed a lot smoother and rode my stroke a lot more. It definitely felt good. I think (Phelps) warmed up the water for me. That’s all I can say.”

Brendan Hansen is the fifth seed for tomorrow’s finals of the men’s 100m breaststroke, turning in a time of 59.94, while teammate Mark Gangloff qualified seventh in 1:00.44. Norway’s Dale Oen has established himself as the swimmer to beat after breaking the Olympic record in last night’s prelims and again in semifinals Sunday morning. His time of 59.16 Sunday was just three-hundredths off Hansen’s world record.

Prelims for the women’s 100m back, men’s 200m free, women’s 100m breast, men’s 100m back, women’s 400m free and men’s 400m free relay will be held Sunday night in Beijing. Finals for the men’s 100m breast, women’s 100m fly, women’s 400m free and men’s 400m free relay will be held Monday morning.