Semantics around INSERT INTO with SELECT and ORDER BY.

If I insert using the results of a select statement, are the inserts
guaranteed to happen in the order of the rows returned from the select?

That is, are these two equivalent:

INSERT INTO <table2> SELECT <field> FROM <table1> ORDER BY <col> DESC;

And:

FOR row IN SELECT <field> FROM <table1> ORDER BY <col> DESC LOOP
INSERT INTO <table2> VALUES (row.<field>);
END LOOP;

I read through the SQL spec on insertion but they don't address insertion
ordering (perhaps, purposefully).

Any clarification here would be super helpful.

Thank you!
Steve