Invalid caret position after deleting text selection

The issue can be reproduced with the following text:

one two
three four

To reproduce the issue:

• place the caret at the beginning of the word "one"
• press Ctrl+Shift+Right (this selects the word "one" and moves the caret to the right)
• press Delete
• press Down

What currently happens: the caret incorrectly ends up at the end of the word "three"
What should happen: the caret should end up at the beginning of the word "three"