Federica Pellegrini of  Italy set a new world record and won the gold medal of women's 200m freestyle clocking 1:54.82 at the Beijing Olympic Games  on Wednesday.

Sara Isakovic of Slovenia took the silver in 1:54.97.  Pang Jiaying of China earned the bronze in 1:55.05, giving the Chinese women their first swimming medal of these games.

American Katie Hoff finished fourth in 1:55.78, the first time in three events she failed to win a medal.

Italy's Federica Pellegrini reacts after winning the women's 200m freestyle swimming final at the National Aquatics Center during the 2008 Beijing Olympic Games in Beijing on August 13, 2008. Pellegrini set a world record time of 1:54.82. [Agencies]